The the Ministry of Commerce has mandated that nonprofit organizations —including micro and small non-profit companies—to appoint an auditor in accordance with the provisions of Article 18 of the Companies Law, effective as of the company’s current fiscal year.
This decision was made based on the powers granted to the Minister, pursuant to Royal Decree No. (79453) dated 6/10/1447 AH, and Paragraph (4) of Article (274) of the Companies Law, issued by Royal Decree No. (M/132) dated 1/12/1443 AH, and in the public interest.
Ministry of Commerce requires non-profit companies to appoint an auditor
The decision includes micro and small non-profit companies, and applies starting from the current fiscal year, based on the Companies Law and Supreme Orders
