Dr. Speaking at a specialized seminar held by KPMG Saudi Arabia, Dr. Abdulrahman bin Mohammed Al Barrak, a member of the Board of Directors of the Authority, urged listed companies to strive to apply the best governance and disclosure practices when preparing financial statements, and we expect listed companies to cooperate seriously and fully with the external auditors to facilitate their work.“
Dr. Al Barrak added <Mr. Al Barrak added: ”We expect accounting firms to improve their performance monitoring systems to detect and correct any irregularities in the documentation of audits and any negative practices that affect the level of confidence in the financial statements.“
Al Barrak stressed the need to improve their performance monitoring systems to detect and correct any irregularities in the documentation of audits and any negative practices that affect the level of confidence in the financial statements and called on listed companies to apply best governance and disclosure practices when preparing financial statements.
Al Barrak added: “We expect listed companies to apply best governance and disclosure practices when preparing financial statements.”
<For his part, Khalil Ibrahim Al-Sudais, Managing Partner of KPMG's Riyadh office and Head of Audit Services, said: "The transition to apply international financial reporting standards and the use of international financial instruments in the Kingdom will greatly support investment decisions in the business sector and will enhance and increase the various disclosures according to the nature and activity of each enterprise, which will increase the effectiveness of control over enterprises and will provide more transparent information about the financial status of enterprises and companies."
Helil Ibrahim Al-Sudais, Managing Partner of KPMG's Riyadh office and Head of Audit Services, said.
