Ministry of Commerce gives insight on corporate financials

Financial statements of the joint stock companies are being prepared by the boards of directors by the end of each fiscal year, the Saudi Ministry of Commerce stated.

These financials will include a report on the company’s business activities, financial position and the planned dividend distribution.

These documents will be referred to the company’s auditors at least 45 days prior to the general meeting.

The company's Chairman, Chief Executive Officer (CEO) and Chief Financial Officer (CFO) are entitled to sign these reports and copies will be maintained at headquarters at the shareholders’ disposal.

Chairman of the board should provide shareholders with these documents, and auditor’s report, if any, unless these documents were published online, 21 days before the general meeting date.

Source : Arqaam