CmaBoardReleases
Title: Resolution No. (13) of 2017 Regarding Suspending an Auditor
Having Perused:
- Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and their amendments; and
- The registration certificate of the auditor Mrs. Hessa Mohammed Ahmed Al-Bahar No. (0006/2013/EA) issued on 15/5/2013; and
- CMA Resolution No. (48) of 2016 on renewing the registration of the auditor in the concerned register at the CMA issued on 15/5/2016; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (4) of 2017 held on 23/1/2017.
The Following Was Resolved
Article (1): The auditor Mrs. Hessa Mohammed Ahmed Al-Bahar is hereby suspended for six months from the date of issuing this Resolution, for not complying with the provisions of article (2) of CMA’s Resolution No. (48) of 2016 on renewing an auditor’s registration in the concerned Register at the CMA.
Article (2): The auditor assigned for reviewing and auditing accounts shall continue performing his duties until the ordinary annual general assembly for licensed persons and companies listed in the Exchange is held.
Article (3): The auditor may submit an application with all the information and requirements mentioned in Article (3-4-2) of Chapter Three (Licensed Persons) of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments according to the Auditor Registration Form of the CMA.
Article (4): The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of issuance, and it shall be published in the Official Gazette.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 13/2/2017