DMCC Auditor Guidelines and related regulationschapter by chapter

AFS Submission GuidelinesSubmit AFS and Summary Sheet via DMCC Member Portal Within 6 Months of Financial Year End

DMCC member companies, including subsidiaries and branches, must upload the auditor's signed AFS Summary Sheet and audited financial statements via the Member Portal within six months of financial year end.

AFS Submission Guidelines - PolicyProvide Additional Documents to DMCCA on Request

DMCC Authority may request additional documents from auditors at any time in connection with an AFS submission.

Guidance Note Ch.1Auditor Appointment and Accounts Filing Timelines

Companies must prepare and audit accounts within six months of year end and file them within five Business Days of shareholder approval, with auditors appointed by Ordinary Resolution.

Rule 3.3, 3.4Engagement of Approved Auditors

A Member Company must engage only an Approved Auditor, listed on the Approved Auditor List at engagement or renewal, to prepare the Audit Report for its audited financial statements.

Rule 3.5Resubmission Following Non-Approved Auditor Rejection

Where a member company submits financial statements with a non-approved auditor's report, DMCCA may reject them and impose sanctions; the company must resubmit with an audit report from an approved auditor to avoid further sanctions.

Rule 3.6Accurate AFS Application and Summary Sheet Completion

A Member Company must ensure an authorised representative completes the online AFS application, including the Summary Sheet, so that all submitted information is true and accurate in all material respects.

Rule 4.1, 4.2, 4.3Approved Auditor Accountability and Report/Summary Sheet Completion

Approved Auditors are always accountable for their Audit Firm's compliance with the Rules and must ensure accounts, audit reports and summary sheets are signed and stamped as required.

Rule 4.4, 4.5Obtain Reasonable Assurance and Meet Auditor's Report Content Requirements

Approved auditors must obtain reasonable assurance that annual accounts are free of material misstatement and IFRS-compliant, and report on IFRS compliance, true and fair view, and disclosures.

Rule 4.6Comply With the Five Approved Auditor Conduct Principles

The Approved Auditor must act with integrity, due skill, care and diligence, objectivity, and confidentiality, and cooperate openly with DMCCA, disclosing reasonably required Member Company information.

Rule 5.1, 5.2Audit Partner Accountability, Qualifications and DMCCA Notifications

The Audit Partner is accountable for the Approved Auditor's obligations, including signing and overseeing Audit Reports, maintaining qualifications, keeping DMCCA submissions accurate, and notifying DMCCA of firm changes.

Rule 6.1, 6.2, 6.7Meet Approval Criteria, Pay Registration Fees and Retain Supporting Documents

Audit firms seeking approved auditor status must meet the approval criteria, pay the AED 3,000 registration fee in two instalments plus the AED 20 fee, and retain original supporting documents for DMCCA.

Rule 7.3Cease New Audit Engagements Upon Suspension/Termination Notice

An audit firm must not accept new audit appointments or renewals from the date of a DMCCA suspension, rejection, termination or non-renewal notice, except fulfilling documented prior obligations.

Rule 8.2Cooperate With DMCCA Monitoring and Review

Audit Firms must cooperate with DMCCA at all times, attending meetings on reasonable request and providing requested documents and information to DMCCA or other competent authorities.

Rule 9.1, 9.3, 9.4-9.6Renew Approved Auditor Appointment Within 20 Business Days of Expiry

Approved auditor appointments run 12 months and expire unless renewed; audit firms must apply at least 20 business days before expiry, paying the AED 1,000 renewal fee.

Rule 10.1Notify DMCCA of Audit Firm Detail Changes Within 10 Business Days

Audit firms must notify DMCCA of any change in firm details, such as Audit Partner, address, or contact details, immediately and no later than 10 Business Days after the change takes effect.