المملكة: Urgent: Two establishments were referred to the prosecution for practicing accounting and auditing without a license

Practicing Accounting and Auditing Without a License

The Authority explained that the initial evidentiary procedures resulted in proving that an office (licensed to practice the profession of financial consulting other than securities) published advertisements on its website, as well as on the social media platform (X).

It includes the office providing a service "Approval of financial statements"which suggests that he is practicing the profession of accounting and auditing without obtaining the necessary legal license, in clear violation of the provisions of the law.

It was found that another commercial establishment offered to provide a service "Review" Through its website, in addition to placing a sign in front of its headquarters that includes phrases suggesting that it is practicing the profession, without obtaining the legal license that allows it to practice accounting and auditing activities.

The Accounting and Auditing Profession System in Saudi Arabia

The Authority confirmed that these practices fall within the criminalized acts under Article (Ten) of the Accounting and Auditing Profession System, which criminalizes misleading the public by any means about the existence of the right to practice the profession without a license, or when The license has been canceled or suspended.

The Authority stressed that it continues to take regulatory and regulatory measures firmly and without leniency towards any practices that affect the integrity of the profession, mislead the public, or harm the reliability of financial reports.

It stressed the importance of all entities and individuals adhering to the relevant systems, regulations and decisions, to avoid falling victim to statutory crimes or professional and behavioral violations, and the resulting penalties and procedures.