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GFSC signs the International Forum of Independent Audit Regulators MMoU

27 Apr 17

The GFSC today announces that it has signed alongside 21 other jurisdictions a MMoU with IFIAR. This MMoU will enable the further cooperation amongst IFIAR Members.

The purpose of this MMoU is for members to demonstrate that they have a common goal in serving the public interest and enhancing investor protection by improving audit quality globally. The MMoU participants recognise the need for co-operation on matters relating to the oversight of auditors that fall within respective regulatory jurisdictions.

IFIAR itself focuses on sharing knowledge of the audit market environment and practical experience of independent audit regulatory activity with a focus on inspections of auditors and audit firms; promoting collaboration and consistency in regulatory activity; and providing a platform for dialogue with other international organisations that have an interest in audit quality.

Samantha Barrass, CEO of the GFSC, said: “The GFSC is delighted to have signed the IFIAR MMoU, where we can be a part of a platform of cooperation with other IFIAR members. The GFSC endeavours to continue to increase its relationship building in the international arena and this is a welcome addition to that objective. The principles under which this MMoU was developed are ones with which we fully support and are pleased to be a part of“.

You can see the MMoU by clicking this link

Notes for Editors:

  1. The GFSC is the regulator of the Gibraltar financial services market, regulating providers of financial services conducted in both Gibraltar and other jurisdictions. The GFSC’s vision is to be recognised by our stakeholders as the model international financial services regulator and its mission is to provide financial services regulation in an effective and efficient manner in order to promote good business, protect the public from financial loss and enhance Gibraltar’s reputation as a quality financial centre. The regulatory objectives underpin the vision and mission statement. Namely, these are the promotion of market confidence; the reduction of systemic risk; the promotion of public awareness; the protection of the good reputation of Gibraltar; the protection of consumers and the reduction of financial crime.
  2. To read other MoUs and MMoUs signed by the GFSC, please click here.
  3. Abbreviations:
  • Gibraltar Financial Services Commission (GFSC)
  • International Forum of Independent Audit Regulators (IFIAR)
  • Multilateral Memorandum of Understanding (MMoU)

Press Release Contact Details

Contact Name

Lucy Munn

Contact Title

Communications Officer

Contact E-mail

lmunn@gfsc.gi

Address

Gibraltar Financial Services Commission
PO Box 940
Suite 3, Ground Floor
Atlantic Suites
Europort Avenue
Gibraltar

Tel

+350 200 40283

Fax

+350 200 40282

Web-site

www.gfsc.gi