Entire Act

9. FUNCTIONS OF AUDITORS, CONDUCT OF AUDITS AND PREPARATION OF AUDIT REPORTS

9.1. Functions of Auditors

The functions of Auditors are set out in Section 138 of the Companies Regulations.

9.2. Conduct of Audits and Content of Reports

9.2.1. Standards of Reports

An Auditor must conduct an audit, and prepare the contents of any relevant audit report, referred to in AIFC legislation in accordance with the following table:

Audit Report

Requirement

Applicable Standards

Contents

Financial Statements – Authorised Person

GEN 6.3.9

International Standards on Auditing

ISA 700

Financial Statements – Company -

Section 137 of the Companies Regulations

International Standards on Auditing




ISA 700

Financial Statements – Reporting Entity

MAR 3.2.2

ISA 700

Financial Statements - Non-Exempt Fund

CIR 11.4(a)

ISA 700

AML Policies, Procedures, Systems and Controls – Authorised Person

AML 14.6.1

ISA 700AML 14.6.1(b)

Client Money Auditor's Report

COB 8.2.19

International Standards on Assurance Engagement (ISAE) or International Standards on Related Services (ISRS)



Annex A

Client Investments Auditor's Report

COB 8.3.14

Annex B

Insurance Intermediary Audit Report

COB 11.8.15

Annex C

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9.2.2. Additional required content

An Auditor must ensure that every audit report produced by it includes the name of the:

9.2.3. Additional reports

The AFSA may at any time require auditors of certain companies to prepare such additional audit reports as it believes necessary to ensure the efficient operation of entities within the AIFC.