Regulatory Alerts2021-09-02
Banks' Approvals for Licensed External Auditors in Saudi Arabia
The Saudi Central Bank requires all domestic banks and commercial banks to provide bank approvals for licensed external auditors regarding audit clients' accounts and balances, following documented client consent. This directive ensures reliable verification of financial statements by standardizing auditor requests and eliminating procedural delays across the banking sector. All regulated institutions must implement these approval processes immediately to support accurate financial reporting and regulatory compliance.
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