The Capital Market Authority (CMA) today, Feb. 16, 2021, announced the postponement of the effectiveness of paragraph 2 (a) of Article 8 of the rules for registering the auditors of entities subject to the authority's supervision from June 1, 2022.
The rules, as per the board’s resolution dated Dec. 20, 2018, were set to be effective upon its publication date except for some provisions such as subparagraph (a) of paragraph (2) of Article 8 of the rules, which was slated to be effective from Dec. 20, 2021.
The move is aimed to develop and stable the capital market environment.
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