The Saudi Central Bank (SAMA) said in a press release that it seeks public consultation on the drafts of “Internal Audit Principles” and “Compliance Principles” for Finance Companies. In this context, SAMA invites stakeholders and the public to provide their suggestions and observations on the drafts by visiting the Public Consultation Platform “Istitlaa.”
These principles, developed in accordance with the best international practices in the relevant field, provide a comprehensive regulatory framework to define the roles of the company’s primary functions and clarify the responsibilities of the board of directors and executive management, according to the release.
Suggestions and observations on the draft will be received within 30 days of this announcement to assess their relevance in finalizing the draft, which is available on the Public Consultation Platform with the National Competitiveness Center.
Source: www.spa.gov.sa