CMA starts probe into Mobily’s revised results

Saudi Arabia’s Capital Market Authority started a probe into Mobily’s decision to revise its revenues in previous financial periods, and the impact of the decision on shareholders’ equity, said CEO Khalif Al-Kaf.
 

This is a genuine regulatory practice, Al-Kaf said, aimed to validate the amendments of financial statements.

Mobily had revised down its revenue and profit for quarters in 2013 and 2014, which made a tangible impact on shareholders’ rights.