Weqaya Takaful calls meeting to appoint new auditors

Weqaya Takaful Insurance Company’s board on Sunday invited shareholders for a general assembly meeting on March 31 to appoint new external auditors for the 2013-2014 fiscal year.

Shareholders will also elect new board members for a three-year session effective on the meeting date.

Each share will equal one voting right, the company said in a statement to Saudi Arabia’s bourse.

Weqaya’s external auditor, Saudi RSM, withdrew from its deal with the insurer after its request to raise audit fees from SAR 200,000 to SAR 1.3 million was rejected, according to data compiled by Argaam.