CMA sets a period of two years to renew the accreditation of audit offices

CMA issued administrative decision No. 8/2018 relating to issuance of the Rules for accreditation of the auditors. The rules focus on the licensing term for the audit firms to practice auditing processes of the companies regulated by CMA. The rules states the licenses is for two renewable years. The move comes to ease the process of follow up and evaluation of the firms to ensure meeting the requirements of professional conduct according to the required standards of efficiency and quality of professional performance derived from the quality of services rendered to investors which must be of high quality, objective and trustworthy to contribute to revealing points of weakness and strength in the financial performance of the companies to enhance their growth and ability of advancement to serve the national economy beside providing protection to investors through sound statements to take informed investment decision.