SCHEDULE 1 – DEFINITIONS

Additional Permit Means a FI Audit Permit or a Public Audit Permit
Additional Permit Criteria Means the criteria defined in Rule 15(1)
ADGM Courts Has the meaning given to that term in the ADGM Courts, Civil Evidence, Judgments, Enforcement and Judicial Appointments Regulations 2015
Annual Auditor Return Is defined in Rule 28
Auditor Applicant Means an applicant for registration as a Registered Auditor
Audit Principal Means an individual appointed by a Registered Auditor who is responsible for:
(a) managing the conduct or provision of any Audit Service undertaken by the Registered Auditor; or
(b) signing on behalf of the Registered Auditor audit reports, or any other reports as may be required under the Companies Regulations these Rules or any other law or regulation applicable to any Audit Service provided by such Registered Auditor
Audit Principal Applicant Means an applicant for registration as an Audit Principal
Audit Service Means
(a) an audit of
(i) any company, firm or other entity carrying on any businesses or activities in the Abu Dhabi Global Market;
(ii) whether a Financial Institution or a public interest entity has complied with applicable requirements in ADGM laws relating to such bodies; or
(b) the preparation of an opinion or report relating to an audit referred to in (a)(i) or (ii) above or,
(c) the carrying out of any other work in respect of or for the purposes of, such audit or preparing such opinion or report,
but does not include the performance of any internal audit function by or for a person referred to in (i) or (ii)
Code of Ethics The code of ethics for accountants as issued and amended from time to time by the IESBA
Commencement Date Means 1 December 2021
Decision Notice Is defined in Rule 42
Decision Notice Recipient Is defined in Rule 42
Employee Means an individual:
(a) who is employed or appointed by a Firm in connection with that Firm's business, whether under a contract of service or for services or otherwise; or
(b) whose services, under an arrangement between that Firm and a third party, are placed at the disposal and under the control of that Firm
Financial Institution or FI Has the meaning given to the term "Financial Institution" in Section 1028
FI Audit Permit Means a Permit granted to a Registered Auditor or Registered Audit Principal under Rule 13(2)
Firm Includes any body corporate or body unincorporated, including a legal person, company, partnership, unincorporated association, government or state
Fit and proper Includes, without limitation, having the ability and intention to comply with, or as the case may be, demonstrating consistent compliance with, the principles set out in Rules 17 (in the case of a Registered Auditor or Auditor Applicant and a Registered Audit Principal or Audit Principal Applicant) and in, the case of a Registered Auditor or Auditor Applicant, also those principles set out in Rule 18
Group Means a group of entities which includes an entity (the 'first entity') and:
(a) any parent undertaking (as defined in the Companies Regulations) of the first entity;
(b) any subsidiary (as defined in the Companies Regulations) of the first entity;
(c) any subsidiary of any parent undertaking (as defined in the Companies Regulations) of the first entity
IAASB The International Auditing and Assurance Standards Board of IFAC
IESBA The International Ethics Standards Board for Accountants of IFAC
IFAC The International Federation of Accountants
International Standards on Auditing The international standards on auditing as issued and amended from time to time by the IAASB
International Standards on Quality Control The international standards on quality control as issued and amended from time to time by the IAASB
Permit Applicant Means an Auditor Applicant, Registered Auditor, Audit Principal Applicant, or Registered Audit Principal (as applicable) who is applying for an Additional Permit
Principles for Registered Auditors Means those principles defined in Rules 17 and Rule 18
Public Audit Permit Means a Permit granted to a Registered Auditor or Registered Audit Principal under Rule 12
Recipient Is defined in Rule 41(2)
Recognised Professional Body A full member of IFAC
Recognised Professional Qualification A qualification conferred by a Recognised Professional Body
Register Means either or both of the register of Registered Auditors and the register of Registered Audit Principals required to be kept by the Registrar pursuant to Rule 4
Registered and registration Means being entered on the Register by the Registrar in accordance with these Rules and "registration" is construed accordingly
Registered Auditor Means a firm registered with the Registrar under Rule 6
Registered Auditor Criteria Is defined in Rule 7
Registered Audit Principal Means a Registered Audit Principal registered with the Registrar under Rule 9
Registered Audit Principal Criteria Means those criteria defined in Rule 10
Registered Audit Principal Principles Means those principles defined in Rule 17
Relevant Auditor Applicant or relevant Registered Auditor Means, in relation to an Audit Principal Applicant or Registered Audit Principal, the Auditor Applicant or Registered Auditor which has appointed such Audit Principal Applicant or Registered Audit Principal to act as a Registered Audit Principal
Relevant Entity Is defined in Rule 33
Relevant requirement Is defined in Rule 33(6)
Warning Notice Is defined in Rule 41
Working Papers Means all material (whether in the form of data stored on paper, film electronic media, or other media or otherwise) prepared by or for, or obtained by a Registered Auditor in connection with, the performance of the audit concerned and includes:
(a) the record of audit procedures performed;
(b) relevant audit evidence obtained; and
(c) conclusions reached