To: All Insurance Companies
Subject: Financial Reporting and External Audit Regulation for Insurance Companies
The Board of Directors,
- Having perused Federal Decree-Law No. 14 of 2018 Regarding the Central Bank and Organization of Financial Institutions and Activities, as amended;
- Federal Decree-Law No. 48 of 2023 Concerning the Organization of Insurance Operations;
- Federal Decree-Law No. 32 of 2021 on Commercial Companies;
- Federal Law No. 12 of 2014 on the Regulation of the Auditing Profession, as amended;
- Cabinet Decision No. 48 of 2022 On the Implementing Regulation of Federal Law No. 12 of 2014 on the Regulation of the Auditing Profession;
- Chairman of Securities and Commodities Authority's Board of Directors Decision No. 3/R.M. of 2020 Concerning Approval of Joint Stock Companies Governance Guide;
- Insurance Authority Board of Directors' Decision No. 25 of 2014 Pertinent to Financial Regulations for Insurance Companies and Insurance Authority Board of Directors' Decision No. 26 of 2014 Pertinent to Financial Regulations for Takaful Insurance Companies;