Regulatory Alerts2010-01-01
Circular No. 5 of 2010
The General Financial Regulatory Authority mandates that all supervised entities, including securities firms, listed companies, public offerings, investment funds, insurance entities, and real estate financing companies, must exclusively engage auditors registered in the Authority’s official Register. The directive prohibits contracting with unregistered auditors and requires companies to secure a prior confirmation letter from the Authority’s Quality Control Unit verifying the auditor’s active registration status before commencing any assignment. This measure enforces compliance with existing capital market, insurance, and real estate financing laws while strengthening audit quality oversight through centralized registration controls.
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