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CMA originates the Listed Companies and Capital Market Institutions Auditors Supervision Division. The Authority as well originated a committee that includes representatives from some relevant governmental entities and independent experts.
The importance of this Division and the committee comes in line with the need to improving market transparency and confidence in the financial statements/reports, and for the purpose of creating a structure that is equivalent to other international capital markets oversight structures, which would support the attraction of foreign investment and cross listing. This decision was based on the CMA analysis and benchmark of the international best practices relating to oversight of public entities auditors.
The Division and the Committee will be focused on establishing the standards and conditions required for the auditors who audit the books of joint stock companies listed on the Exchange and Capital Market Institutes; the registration of certified public accountants licensed by the Ministry of Commerce and Investment and registered in the Certified Public Accountants Register, who are providing audit services to listed companies and who are in compliance with the CMA standards and conditions; supervision and inspection of such auditors within the CMA scope of work; contributing with the Saudi Organization of Certified Public Accountants to improving the financial reporting quality of listed companies. 
The CMA Board has issued its resolution concerning the exemption of those intending to offer debt instruments in the market from the fees collected by the CMA upon submitting an application to register debt instruments, reviewing the application related to the registration of debt instruments and registration of debt instruments until the end of 2020.
The CMA Board of Commissioners has issued its resolution to exempt listed companies from disclosing the 4th Quarter financial statements for current financial year.
CMA announced applying for the activity of Valuation of Assets shall be according to the application form provided in Appendix No. (5) (Application for Securities Activities License) of Module five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. (7) of 2010 and their amendments. It is available for all persons who meet all the license requirements stipulated in Article (1-5) of Chapter One (Securities Activities) of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. (7) of 2010 and their amendments, especially the requirements stipulated in Appendix (1) (Capital Requirements and Legal Form of Licensed Persons) of the same Module. In this case the company’s capital shall be one hundred thousand K.D. (Kuwaiti Dinar) and its legal entity as a shareholding company or limited liability, provided that one of the partners shall be an auditor registered with the CMA.
The Capital Markets Authority (CMA) has announced the end date of corporate governance reports’ submission period of 2017, pursuant to the provisions of Module Fifteen (Corporate Governance) 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, which stipulate that companies subject to the mentioned rules shall annually provide the CMA with an evidence of meeting the requirements set forth in the rules of corporate governance issued by the CMA.

It is worth mentioning that 197 out of 198 companies, which are subject to corporate governance rules, have submitted the required report within the specified period.

 

 

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