PKF Al-Bassam & Co has been approved by the Capital Market Authority (CMA) to carry out audits for ESAS [Entities Subject to the Authority's Supervision] companies in the kingdom of Saudi Arabia, the first firm in the region to achieve this. ESAS refers primarily to joint stock companies, and other similar companies.
New regulations put in place by the Saudi CMA require that firms auditing joint stock companies must now be registered. The new rules also state that only registered and approved firms can carry out audit work for these companies. PKF Al-Bassam & Co is the first firm in the region that can carry out this type of work.