Ministry of Economy and Tourism, Capital Market Authority and the DFSA launch first joint Quality Management audit inspections to strengthen capital markets financial oversight

The Ministry of Economy and Tourism of the United Arab Emirates (UAE), Capital Market Authority (CMA), and the Dubai Financial Services Authority (DFSA) are today, announcing their first joint Quality Management audit inspections. The Quality Management audit inspections will help to strengthen capital markets oversight within the UAE.

This collaboration builds on the recently signed Memorandums of Understanding (MoUs) with the Ministry of Economy and Tourism, and the Capital Market Authority, to enhance cooperation and facilitate the exchange of information relating to the regulatory oversight of auditors within their respective jurisdictions.

The inspections will specifically assess the implementation of the International Standards on Quality Management 1 (ISQM 1) by audit firms across the UAE; ensuring that financial services firms operating across the UAE benefit from consistent, high-quality assurance processes across jurisdictions, which are benchmarked against recognised regulatory and professional frameworks, further strengthening confidence in financial reporting and organisational governance.