The Dubai Financial Services Authority announced with the United Arab Emirates Ministry of Economy and Tourism and the Capital Market Authority the launch of their first joint Quality Management audit inspections, establishing a coordinated approach to oversight of auditors across the UAE. The inspections will assess how audit firms are implementing International Standards on Quality Management 1, with the aim of promoting consistent assurance processes for financial services firms operating across multiple UAE jurisdictions. The initiative builds on recently signed memorandums of understanding between the authorities to strengthen cooperation and support information exchange on auditor oversight within their respective jurisdictions. The release describes the inspections as a first step toward closer coordination and more tailored information sharing among the authorities.
Dubai Financial Services Authority 2026-05-06
Dubai Financial Services Authority launches first joint Quality Management audit inspections across the UAE with the Ministry of Economy and Tourism and Capital Market Authority
The Dubai Financial Services Authority, UAE Ministry of Economy and Tourism, and Capital Market Authority have launched their first joint Quality Management audit inspections to coordinate oversight of auditors across the UAE. The inspections will review audit firms’ implementation of International Standards on Quality Management 1 to promote consistent assurance processes for financial services firms operating in multiple jurisdictions and are described as a first step toward closer supervisory coordination and more tailored information sharing.