Circular Regarding the Issuance of International Standard on Auditing No. 701 No. 13875/1/10 dated 2016/10/30

In the Name of Allah, the Most Gracious, the Most Merciful

Number: 13870/100
Date: 29/8/1438 AH
Corresponding Date: 2/01/2016 AD

Circular to Islamic Banks

Greetings,

In light of the issuance of International Standard on Auditing No. (701) regarding "Communicating Key Audit Matters in the Independent Auditor's Report," please instruct your auditors to strictly adhere to the application of the requirements of the aforementioned standard when auditing the Bank's financial statements, effective for financial data as of 31/12/2016, until such time as a standard is issued by the Accounting, Auditing and Governance Organization for Islamic Financial Institutions (AAOIFI) on this specific matter.

Please accept our highest regards,

The Governor
Dr. Ziad Friez

Copy: Auditors / Messrs. Deloitte & Touche (Middle East) – Jordan, Respected. P.O. Box (248) Amman (11118).

Copy: Auditors / Messrs. Ernst & Young, Respected.
P.O. Box (1140) Amman (11118).

Copy: Auditors / Messrs. Al-Qawasmi & Partners (KPMG), Respected. P.O. Box (930071) Amman (111193).

Copy: Auditors / Messrs. PricewaterhouseCoopers (Jordan), Respected. P.O. Box (5175) Amman (111183).

Copy: Auditors / Messrs. Ibrahim Al-Abbasi & Partners, Respected. P.O. Box (92511) Amman (111190).