---
title: "Corporate Governance Thematic… | Insights — Lyoen & Partners"
url: https://lyoenandpartners.com/insights/corporate-governance-thematic-review-of-authorised-firms-in-the-dubai-international-financial-centre
description: "A questionnaire went to all 301 firms then authorised in the DIFC with 262 responses, an 87 per cent participation rate, of which 220 were used after vali…"
lang: en-US
---

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Monday, August 11, 2014compliance

# Corporate Governance Thematic Review of Authorised Firms in the Dubai International Financial Centre (DIFC)

A questionnaire went to all 301 firms then authorised in the DIFC with 262 responses, an 87 per cent participation rate, of which 220 were used after validation, plus eleven on-site inspections; fieldwork was carried out in 2013 and the report is dated 11 August 2014. Controllers sat on 35 per cent of governing bodies against independent non-executive members on 25 per cent, 24 per cent had a chairman who was also the Senior Executive Officer and 20 per cent a chairman who was also a Controller. Only 9 per cent had a formal process for reviewing the governing body's effectiveness, none had one for committees, no firm had a documented policy for escalating concerns to the governing body, and none of the 220 respondents reported any corporate governance training.

Sources

Dubai Financial Services Authority (https://www.dfsa.ae/application/files/3415/8219/8172/Corporate-Governance-Report-English-Final-Aug-11-2014.pdf)

Region: Gulf (GCC): https://lyoenandpartners.com/insights/region/gcc

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