Saudi Arabia Wins First-Ever Seat in International Auditing and Assurance Standards Board

The Public Interest Oversight Board (PIOB) announced the selection of Sami bin Mohammad Al-Shorafa, the General Director of the General Department of Financial Statements and Auditors at the Capital Market Authority, to represent the Kingdom of Saudi Arabia on the International Auditing and Assurance Standards Board (IAASB) for a period of three years.

This marks the first-ever Saudi seat at the IAASB.

The selection comes as part of the announcement by the PIOB approving appointments and reappointments to both the International Ethics Standards Board for Accountants (IESBA) and the IAASB, which will be effective from January 1, 2024.