PKF Al-Bassam & Co Becomes First ESAS Audit Firm in Saudi Arabia
PKF Al-Bassam & Co has been approved by the Capital Market Authority (CMA) to carry out audits for ESAS companies in the kingdom of Saudi Arabia, the first firm in the region to achieve this. ESAS refers to entities that fall under the supervision of the CMA, which primarily include Joint Stock companies, and other similar companies.
New regulations put in place by the CMA require that firms auditing Joint Stock companies must now be registered. The new rules also state that only registered and approved firms can carry out audit work for these companies, meaning that PKF Al-Bassam & Co is currently the first firm in the region that can carry out this type of work.