The Capital Market Authority (CMA) Board issued its resolution approving the registration of Sultan Ahmed Mohammed AlShubaily Certified Public Accountant Company to carry on audit engagements for entities subject to CMA's supervision, in accordance with the conditions and limitations set by CMA based on its authority under the Capital Market Law and Its Implementing Regulations.

The CMA's approval on registering the Company comes with the purpose of carrying on the auditing engagements for ESAS, as the financial statements and financial information are considered a main factor to enhance the confidence of the market and raise the level of transparency and disclosure in the capital market, and since it is the means through which the entities can deliver the financial information to the users of the said statements to take their decisions at the right time.

With this new registration, the number of registered accounting firms with the CMA has now increased to 16, while the total number of registered Certified Public Accountants (CPA) has reached 52.

It is worth mentioning that in 2018, the CMA issued, for the first time, the implementing regulations to regulate ESAS's auditors with the name "Rules for Registering Auditors of Entities Subject to the Authority's Supervision". These Rules aim to set out the standards and conditions to be met by the auditors of the entities subject to the authority's supervision, including conditioning their registration. In addition, the continuing obligations imposed on the registered auditors.

In 2022, CMA amended the said Rules with the aim of developing the procedures of registering ESAS's auditors.

To review the list of CMA-registered Accounting Firms and Auditors, kindly visit the following link:

https://cma.org.sa/en/Market/rafs/Pages/default.aspx

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