CmaBoardReleases
Back to Search
Title: Circular No. (11) of 2016 on the Annual Report of Evaluating and Reviewing the Internal Audit Systems in Compliance with Module Fifteen of the Executive Bylaws
Date Publish
10 November 2016
“Circular to All Shareholding Companies Subject to the Provisions of Module Fifteen”
Shareholding companies subject to the provisions of Module Fifteen
Greetings,
We would like to draw your attention to the provisions of Article (6-9) of Chapter Six (Rule V: Apply Sound Systems of Risk Management and Internal Audit) of Module Fifteen (Corporate Governance) of the Executive Bylaws of Law No. 7 of 2010 and their amendments, which stipulates that an independent audit firm shall be assigned to evaluate and review the internal audit systems and prepare a report in this regard (Internal Control Report), and shall be submitted to the Authority per annum.
Therefore, the provisions of the mentioned Article must be observed, and the report must be submitted to the Authority per annum within a maximum of 90 days from the end date of the financial year.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 9/11/2016
Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.
We use cookies to ensure you get the best experience on our website.