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Effective from Oct 23 2022 - Oct 22 2022 To view other versions open the versions tab on the right
1.
The Company shall adopt the International Accounting Standards in preparing its accounts and financial statements.
2.
The Company shall make provisions for potential losses and risks in line with the International Accounting Standards. SAMA may require the Company to make an additional provision or more to meet potential losses and risks.
3.
Subject to the International Accounting Standards, the Company shall define criteria for assets value reduction, provisioning standards and regularly verify their implementation.
