Gentlemen/ Members of the Chamber
Asharqia Chamber presents you with its best regards and informs you of receiving the letter of the Federation of Saudi Chambers No. (42101634) dated (1/6/1443 AH) regarding the letter of the Ministry of Commerce No. 15094 and dated (18/4/1442 AH), The attached letter to the Federation letter No. (4250116) dated (18/3/1442 AH), submitted to His Excellency the Minister of Commerce, in which reference is made to the period for the total period of external auditors mentioned in the current Companies Law, which must not exceed (5) continuous years. And that most companies have to change the auditors this year to reach (5) years, and the union asked to take into account the sensitivity and importance of this topic for the commercial and industrial sector in issuing the procedures that have been taken regarding the suspension of some articles of the companies’ system due to the Coronavirus pandemic.
Accordingly, the Ministry would like to note the issuance of its circular to unlisted joint-stock companies with No. (7194) dated (15/4/1442 AH), and the Ministry’s circular to Limited Liability Companies with No. (7195) and dated (15/4/1442 AH), regarding the issuance of exceptions from Some provisions of the Companies Law, including what was referred to in the Federation letter regarding the term of appointment of external auditors.