CmaBoardReleases
Title: Resolution No. (127) of 2017 Regarding Canceling the Registration of an Auditor at the Capital Markets Authority
Having Perused:
- Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and their amendments;
- The registration certificate of Ms. Hessa Mohammed Ahmed Al-Bahar No. 0006/2013/EA issued on 15/05/2013; and
- CMA’s Resolution No. (48) of 2016 on renewing an auditor’s registration in the concerned register at the CMA issued on 15/05/2016; and
- Resolution No. (13) of 2017 on suspending an auditor issued on 13/02/2017; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (35) of 2017 held on 13/09/2017.
The Following Was Resolved
Article (1)
The registration of the auditor Ms. Hessa Mohammed Ahmed Al-Bahar, who is registered at the CMA, is hereby canceled. She did not comply 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 shall perform her duties until holding the annual ordinary general assembly for licensed persons and companies listed in the securities exchange, whose accounts were reviewed and audited by the auditor before issuance of this resolution.
Article (3)
The CMA may re-register the auditor in the concerned register at the CMA in case of meeting the required conditions and provisions pursuant to what is specified by 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 its issuance, and it shall be published in the Official Gazette.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 24/09/ 2017