Title: Circular No. (13) of 2023 Regarding the Mechanism of the Electronic Receipt of the Annual Report of the Licensed Person’s Compliance with the Provisions of Module Seven (Clients’ Funds and Clients’ Assets)

“Circular to all Auditors Registered with the Capital Markets Authority”

The Auditor
Greetings,

As part of the Capital Markets Authority’s (CMA) pursuit to develop the mechanism of the supervisory work with the auditors registered with it, the CMA has established and launched an electronic service through CMA’s electronic portal that permits the registered auditors to submit the supervisory requirement of annual report stipulated in Article (2-5) of Module Seven (Clients’ Funds and Clients’ Assets) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments.
Such launch comes after CMA’s introductory workshop held on June 21-22, 2023, for all auditors registered with it to introduce the new mechanism of submitting the mentioned supervisory requirement electronically, and the subsequent pilot launch of the automated service that was implemented during the period from July 5 to 24, 2023.
Accordingly, all auditors registered with the CMA shall submit the mentioned supervisory requirement electronically through CMA’s electronic portal as of the beginning of 2024.
We hope that all auditors registered with the CMA will adhere to the instructions mentioned in this circular.

Prof. Ahmad Almelhem
Issued on: 27/08/2023.

Copy of the Official Document