Almousa & Altamimi

Who appoints the auditor and what the resolution must set, the maximum term (10 years for an individual and the supervising partner, up to 20 for a firm), the removal procedure and five-day notification, resignation and the replacement, and the 10% partners' right to demand an auditor despite the exemption — from the Companies Law and its Implementing Regulation. ... Read more

Two adopted frameworks in the Kingdom: full IFRS for publicly accountable entities, and the IFRS for SMEs Standard for everyone else regardless of size. The practical differences (leases, borrowing costs, goodwill, disclosures), what changed in the third edition adopted in the Kingdom and effective from 1 January 2027, and when a business must move to full IFRS. ... Read more

Why the first year of an audit takes longer and costs more, the reverse timeline from the zakat return deadline (120 days) and the filing of financial statements (6 months), the document list the auditor asks for area by area, the auditor's rights under the Companies Law, and ten causes that prolong an audit and expose the opinion to qualification. ... Read more

Four professional engagements, four different reports: the audit (reasonable assurance and an opinion), the review (limited assurance and a negative-form conclusion), the compilation (no assurance) and agreed-upon procedures (factual findings). Who accepts which in Saudi Arabia — the Ministry of Commerce, contractor classification, local content, the banks — and how to choose in two minutes. ... Read more