(MENAFN- Khaleej Times) The European Commission recently announced its decision to grant the Dubai Financial Services Authority's (DFSA) audit monitoring system 'equivalent status' with European Union (EU) member states.
Following an assessment of the supervisory regime for auditors in the Dubai International Financial centre (DIFC), the Commission considered the DFSA's audit oversight system equivalent with that of EU member states. On the basis of this decision, individual EU audit regulators may enter co-operative agreements with the DFSA with the view to relying on each other's work on the supervision of auditors and audit firms.
Ian Johnston, chief executive DFSA said: "This is further confirmation of the recognition of the DFSA as a regulator of international standing and of the DIFC as a reputable financial centre."
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