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Firm’s Compliance with Maldivian Auditing Standards and Laws
Audit Firm’s Compliance Report for [Year]
In accordance with the requirements of the Companies Act (Law No. 10/96), Sole Proprietorship Act (Law No. 19/2014), and other relevant laws and regulations, this report provides an overview of our firm’s compliance status.
Conflicts of Interest
We confirm that our firm is in compliance with Section 7 of the Regulation on the Audit and Accountability of State-Owned Enterprises (Reg No. 2021/R-152) and has not provided advisory or other services to State-Owned Enterprises that may result in a conflict of interest.
International Code of Ethics for Professional Accountants
We confirm that our firm is in compliance with Section 600 of the International Code of Ethics for Professional Accountants, including International Independence Standards, when providing non-assurance services to audit clients.
Litigation
There are no ongoing litigations by or against our firm in a Tribunal or Court of Law.
Prevention of Money Laundering and Financing of Terrorism Act (PMLFTA)
We confirm that we have an AML/CTF program in place, designated a compliance officer at management level for implementation of PMLFTA, and conduct regular awareness and training programs for employees. We also regularly conduct or participate in independent audits to check conformity, compliance with, and effectiveness of the measures taken to implement PMLFTA.
Audit and Non-Audit Engagements
Our firm’s revenue from audit engagements for the year was [amount] MVR, with [number] clients. Our revenue from non-audit services provided to audit clients for the year was [amount] MVR, with [number] clients. We provide the following non-audit services:
- [list of services]
Other Information
We have offices in [location], with a total staff of [number]. Our network affiliations remain unchanged during the year.
Our professional indemnity insurance is provided by [insurer], covering [sum insured] MVR for the period from [date] to [date]. The next renewal date is [date].
Our technical staff composition is as follows:
- [list of levels and number of Maldivian and foreign staff]
Declaration
We declare that the information given in this form is true, accurate, and complete to the best of our knowledge. We understand that a false declaration may lead to sanctions being taken against us and/or invalidate any decision related to our firm’s licence.
Signed,
- Licenced Partner 1
- Licenced Partner 2
Date: [date] Sign: [signature]