AML supplemental guidance for auditors in UAE

The Ministry of Economy, UAE, has published a guideline for auditors to fulfill their obligations under the AML/CFT legislative and regulatory framework of the UAE and their implementing regulations. Cabinet Decision No. (10) of 2019 Concerning the Implementing Regulation of Decree Law No. (20) of 2018 On Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations (the “AML-CFT Decision”) subjects Designated Non-Financial Business and Professions (DNFBPs) to specific AML/CFT obligations. Auditors being one of the DNFBPs, need to fulfill specific obligations in respect of auditing of accounts and reporting of crimes detected during the course of carrying out those duties. Download the supplemental guidance for auditors to know more.