The ICAEW has landed a contract with the Dubai Financial Services Authority that will see the accountancy body assist with the monitoring of audit firms in the Middle East. The DFSA is an independent regulator in the Middle East, responsible for the oversight of auditors. The contract comes at the same time as the ICAEW has opened offices in Dubai. Vernon Soare, ICAEW executive director of professional standards, said: 'Audit is one of the cornerstones of a transparent financial reporting system and critical for investor confidence. Dubai already has a robust system for monitoring of the firms providing audit services, something which offers further assurance to investors. We look forward to working closely with the DFSA over the next few years.'