FAQ

An outsourced Finance Officer is a third-party professional or firm appointed to  manage the finance and regulatory reporting requirements for a DFSA-regulated  entity in the DIFC.

Yes, certain categories of DFSA-regulated firms, such as Category 3C and 4 firms,  are required to appoint a Finance Officer to ensure compliance with DFSA’s  prudential reporting obligations.

Yes, the DFSA allows outsourcing of the Finance Officer function, provided the individual or firm has the relevant experience, and the firm maintains oversight of  the function.

Key responsibilities include preparing and submitting the Prudential Returns (PIBs),  monitoring capital adequacy, managing regulatory reporting, and ensuring financial  statements comply with DFSA rules.

The Finance Officer should have financial services experience, knowledge of DFSA  prudential regulations, and ideally an accounting qualification (e.g., CPA, ACA,  ACCA). 

Quarterly PIB returns are typically required for authorised firms. Annual returns  along with audited financials are also mandatory.

It reduces overhead costs, provides access to regulatory expertise, ensures compliance, and allows firms to scale operations efficiently.

Non-compliance with DFSA requirements may lead to fines, restrictions, or even suspension of the firm's license.

While possible in small firms, the DFSA prefers functional separation to avoid conflicts of interest, especially in higher-risk firms.