The CMA Approves the Registration of "Kreston NBB for Professional Consulting" to Carry on Audit Engagements for Entities Subject to Its Supervision

The Capital Market Authority (CMA) Board issued its resolution approving the registration of Kreston NBB for Professional Consulting to carry out audit engagements for entities subject to the Authority's supervision (ESAS), in accordance with the conditions and limitations set by the CMA pursuant to its authority under the Capital Market Law and its Implementing Regulations, provided that the Company shall not commence conducting audit engagements for listed companies and Real Estate Investment Traded Funds (REITs) until it satisfies the specified conditions and limitations for it.
The CMA’s approval on registering the Company aims to carry out audit engagements for ESAS, as the financial statements and financial information are considered a main factor to enhance the confidence of the market and raise the level of transparency and disclosure in the capital market, and since it is the means through which the entities can deliver the financial information to the users of the said statements to take their decisions in a timely manner.
Following this new registration, the number of registered accounting firms with the CMA has increased to 17, while the total number of registered Certified Public Accountants (CPAs) has reached 58.
It is worth mentioning that in 2022, the CMA amended the Rules for Registering Auditors of Entities Subject to the Authority's Supervision, which were issued in 2018, with the aim of developing the procedures for registering ESAS’s auditors.
To review the list of CMA-registered accounting firms and auditors, kindly visit the following link:Page Link.