Audit and Follow-up Directorate

The Financial Audit Section is responsible for auditing the minutes of extraordinary general assembly meetings, reviewing financial statements and related financial matters, verifying compliance with financial requirements, following up on financial irregularities, and ensuring compliance with applicable legislation.

• Auditing the minutes of extraordinary general assembly meetings.
• Reviewing financial statements and accompanying disclosures and conducting financial analysis upon request.
• Verifying that the fees collected are in accordance with the applicable procedures.
• Ensuring that the required foreign approvals have been obtained for nationalities specified by the Council of Ministers.
• Corresponding with companies regarding legal violations.
• Performing any other duties assigned by the Directorate Director.

The Legal Audit Section is responsible for reviewing company registration procedures, auditing legal documents and resolutions, reviewing the legal validity of company management, and ensuring compliance with applicable legislation.

• Verifying company registration procedures.
• Enabling stakeholders to inspect company files in accordance with the applicable procedures and allowing experts appointed by the courts or official entities to access the files through the archiving system. Where inspection of the original file is required, the request shall be referred to the Registration Director.
• Auditing the minutes of general assembly meetings and the minutes of boards of managers and boards of directors.
• Auditing transfers of quotas or shares based on transfer deeds.
• Reviewing whether company management is legally valid in accordance with the company’s memorandum and articles of association.
• Reviewing the term of office of company management in accordance with the company’s memorandum and articles of association.
• Corresponding with companies regarding legal violations.
• Performing any other duties assigned by the Directorate Director.

The Corporate Governance Section is responsible for monitoring companies' compliance with corporate governance standards, promoting good governance practices, and preparing governance-related reports and awareness activities.

• Monitoring companies' compliance with the Corporate Governance Code.
• Implementing the Department's policies to encourage companies and investors to comply with corporate governance rules.
• Preparing reports on the compliance of public shareholding companies with corporate governance principles.
• Raising awareness among companies and the public regarding corporate governance principles and their importance to the capital market.
• Performing any other duties assigned by the Directorate Director.

The Foreign, Exempt, and Non-Profit Companies Follow-up Section is responsible for monitoring the compliance of foreign, exempt, and non-profit companies, as well as related procedures, in accordance with applicable legislation.

• Following up on non-profit companies and foreign funding procedures.
• Following up on exempt companies, bank guarantees, and annual fees.
• Following up on operating foreign companies.
• Following up on non-operating foreign companies.
• Performing any other duties assigned by the Directorate Director.

The Inspection Section is responsible for receiving complaints, following up on company violations, conducting field visits, and monitoring the implementation of recommendations to correct the status of companies.

• Receiving and reviewing complaints relating to all types of companies, referring them to the competent authority, and following up on their resolution.
• Following up on correspondence issued by the Department regarding the rectification of companies' violations of the law.
• Following up on the recommendations of audit and investigation committees concerning the correction of companies' financial and legal status.
• Conducting inspections and field visits.
• Performing any other duties assigned by the Directorate Director.

The Information and Studies Section is responsible for preparing studies, providing information to support decision-making, and preparing reports related to the Department's work.

• Preparing studies related to the Department's work.
• Providing information to decision-makers.
• Preparing the required reports.
• Performing any other duties assigned by the Directorate Director.