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 Tourism1, and the Capital Market Authority2, 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.
His Excellency Abdullah Al Saleh, Undersecretary of the Ministry of Economy and Tourism, said: “The Ministry’s collaboration with the Capital Market Authority and the Dubai Financial Services Authority complements the UAE’s ongoing efforts to strengthen oversight and inspection mechanisms for the accounting and auditing profession. It will contribute to enhancing the efficiency and transparency of the country’s business environment, while reinforcing investor confidence in the UAE’s financial reporting and corporate governance frameworks.”
His Excellency Waleed Saeed Al Awadhi, Chief Executive Officer of the Capital Market Authority, commented: “We are entering a new era of audit regulatory transparency with the launch of joint Quality Management audit inspections across the UAE. By evaluating audit firms through a coordinated national approach, the Capital Market Authority, the DFSA, and the Ministry of Economy and Tourism are reinforcing consistent standards of quality management as an operational reality across the UAE. This joint effort enhances regulatory alignment, optimises supervisory resources, and supports a level playing field, further reinforcing the UAE’s status as a leading international financial centre.”
Mark Steward, Chief Executive of the DFSA added: “The collaborative approach to Quality Management inspections ensures the efficient and effective use of regulatory resources. By coordinating efforts, we will deliver comprehensive oversight – ultimately strengthening customer and investor confidence within DIFC, Dubai, and the United Arab Emirates financial markets”.
The collaboration represents a first step toward enhanced coordination and more tailored exchange of information amongst audit firms ultimately, enabling their own clients to unlock strategic advantages within the UAE’s dynamic financial services ecosystem while reinforcing trust and confidence across the financial services sector.
- DFSA and Ministry of Economy and Tourism sign Memorandum of Understanding to enhance financial services growth and strengthen audit and regulatory oversight (2 April 2026)
- SCA and DFSA strengthen regulatory cooperation with Memorandum of Understanding on the oversight of auditors (27 October 2025)
