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  • Chapter 6 — Co-operation with Auditors and Auditors Obligations of Disclosure to the DFSA

    • 103. Co-operation with auditors

      (1) In this Article, a Relevant Person means:
      (a) an Authorised Person;
      (b) a Public Listed Company;
      (c) in relation to a Domestic Fund, the Fund Manager and, where appointed, the Trustee of the Fund, any person providing oversight of the Fund and any member of the Governing Body of the Fund; and
      (d) an officer, employee or agent of a person referred to in (a), (b) or (c).
      (2) A Relevant Person shall co-operate with its Auditor and, without limiting the generality of that obligation, shall comply with such measures relating to cooperation with its Auditor as may be prescribed in the Rules.
      (3) A Relevant Person shall not knowingly or recklessly:
      (a) provide information to its Auditor that is materially false, misleading or deceptive; or
      (b) omit to provide information to its Auditor, that its Auditor reasonably requires, or is entitled to require, where the omission of such information is likely to mislead or deceive its Auditor.
      (4) A Relevant Person or any person acting under the direction or authority of such Relevant Person shall not without reasonable excuse engage in any of the following conduct:
      (a) destruction or concealment of documents;
      (b) coercion, manipulation, misleading, or influencing of the Auditor;
      (c) failure to provide access to information or documents specified by the Auditor; or
      (d) failure to give any information or explanation which the person is able to give;
      where that person knows or ought to know that such conduct could:
      (e) obstruct the Auditor in the performance of his duties under this Part or Rules made for the purposes of this Part; or
      (f) result in the rendering of the financial statements of the Authorised Person, Public Listed Company or Domestic Fund, or the Auditor's report materially misleading.

    • 104. Obligation of Disclosure to the DFSA

      (1) An Auditor is subject to the obligations of disclosure under Article 104(3).
      (2) Without limiting the application of any other provision of this Law, an Auditor does not contravene any duty to which the Auditor is subject merely because the Auditor gives to the DFSA:
      (a) a notification as required under this Article; or
      (b) any other information or opinion in relation to any such matter;
      if the Auditor is acting in good faith and reasonably believes that the notification, information or opinion is relevant to any functions of the DFSA.
      (3) Subject to Article 104(4), an Auditor shall disclose to the DFSA any matter which reasonably tends to show one of the following:
      (a) a breach, or likely breach of a provision of the Law or other legislation administered by the DFSA;
      (b) a failure, or likely failure, to comply with any obligation to which a person is subject under such legislation; or
      (c) any other matter as the DFSA may prescribe in Rules;
      which may be attributable to the conduct of the relevant:
      (d) Authorised Person;
      (e) Public Listed Company;
      (f) Domestic Fund, Fund Manager, Trustee or the Governing Body of a Domestic Fund; or
      (g) officer, employee or agent of a person referred to in (d), (e) or (f).
      (4) Article 104(3) shall not apply to the extent that compliance with such requirement would disclose a Privileged Communication.
      (5) An Authorised Person, Public Listed Company or the Fund Manager of a Domestic Fund shall establish and implement appropriate systems and internal procedures to enable its Auditor to comply with Article 104(3).
      (6) Any provision in an agreement between an Authorised Person, Public Listed Company or a Domestic Fund, and a director, officer, employee, agent or Auditor is void in so far as it purports to hinder any person from causing or assisting the Auditor to comply with an obligation under Article 104(3).
      (7) No person shall be subjected to detriment or loss or damage merely by reason of undertaking any act to cause or assist an Auditor to comply with an obligation under Article 104(3).
      (8) A Court may, on application of an aggrieved person, make any order for relief where the person has been subjected to any such detriment or loss or damage referred to in Article 104(7)

    • 105. [Deleted]