Dear Subscribers of the Chamber Esteemed
May peace, mercy, and blessings of God be upon you.
Asharqia Chamber extends its warmest greetings and informs you that it has received the letter from the Federation of Saudi Chambers, No. (45556268/20), dated (11 Rabi’ al-Thani 1448 AH), referring to an email received from the Ministry of Commerce dated (September 20, 2026), regarding a private sector challenge identified by specialists at the Saudi Center for Competitiveness and Business. The challenge concerns the application of enforcement procedures based on executives’ opinions following companies’ failure to submit their financial statements. The letter also includes a recommendation on the importance of raising companies’ awareness of board members’ responsibilities and obligations, as well as companies’ duties in preparing and submitting financial statements, thereby helping to improve compliance with the provisions of the Companies Law and avoid violations.
The Federation has made available an awareness document on the responsibilities and obligations of company officials and the related statutory duties for preparing and submitting financial statements, and the impact of fulfilling these duties on strengthening compliance. The document can be accessed at the following link: (http://go.ac.sa/2a8).
Accordingly, the Federation urges company officials and other concerned parties to review and benefit from the awareness content in a way that helps strengthen awareness and compliance across the business sector.
Please accept our sincere regards and appreciation.