Kingdom of Saudi Arabia – Saudi Central Bank (SAMA)

Kingdom of Saudi Arabia – Saudi Arabian Monetary Authority – Insurance-Re-insurance – Audit Committee Regulation – July 2003. Covering:

Part 1: Introduction

First: Purpose

Second: Definitions

Third: Scope

Fourth: Compliance Requirements

Fifth: Non-Compliance

Part 2: General Provisions

First: Board of Directors Responsibilities

Second: Board of Directors Obligations

Part 3: Special Provisions

First: Committee Formation

Second: Member Appointment and Term

Third: Membership Organisation

Fourth: Appointing the Chairman and the Secretary of the Committee

Fifth: Committee Member’s Remuneration

Sixth: Committee’s Tasks

Seventh: Committee’s Responsibility

Eighth: Committee’s Meetings

Ninth: Committee’s Decisions

Tenth: Committee’s Meetings Attendance

Eleventh: Audit Committee Action Plan

Twelfth: Committee Connections with External Auditors