The Registration Authority of Abu Dhabi Global Market
(ADGM) and the Ministry of Economy have agreed to cooperate more with respect
to the registration and supervision of auditors with the aim of promoting high
standards of financial audits in the UAE.
To this effect, an MoU was signed by Dhaher bin Dhaher Al Mheiri, CEO of the
Registration Authority of ADGM, and Humaid bin Butti Al Muhairi, Assistant
Undersecretary for Commercial Affairs, Ministry of Economy.
Al Muhairi said: “This strategic MoU between ADGM and the Ministry of
Economy facilitates the exchange of information and expertise between both
parties. The MoU also seeks to align the country’s auditing standards with
global best practices and ensure that auditing companies comply with internationally
accepted legal and organisational requirements.”
Al Mheiri said: “Our goal is to ensure that the highest standards of
quality are maintained when it comes to auditing, by pursuing best practices
and increasing transparency. Through this agreement, ADGM and the Ministry of
Economy will work hand in hand to coordinate on the oversight and development
of the audit profession.”
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Courtesy to Khaleej Times
