From Yahoo Finance: 2025-06-02 12:01:00

The Dubai Financial Services Authority (DFSA) found deficiencies in audit working paper archiving and retention among registered auditors (RAs) in the Dubai International Financial Centre (DIFC). Issues included delays in archiving, system controls, and reliance on group policies. 59% of RAs use a mix of electronic and paper-based working papers, while 41% rely solely on electronic systems. Non-compliance with auditing standards was observed in 59% of RAs. Good practices include automated checks and robust monitoring systems. The DFSA oversees 21 RAs auditing 774 regulated entities. Archiving and retention will remain a key focus for future supervisory activities.

Read more: DFSA review uncovers gaps in audit documentation among RAs