SCA introduces key clarifications for UAE Public Joint Stock Companies on Internal Controls over Financial Reporting (ICOFR)

The Securities and Commodities Authority (SCA) has issued a new circular with key amendments to the Governance Guide for Public Joint Stock Companies. These changes are a significant step towards aligning UAE-listed entities with global best practices, boosting investor confidence in the UAE Securities Market.

 

Key Highlights:

  • Comprehensive internal control and risk management systems.
  • Adoption of the COSO framework.
  • Phased approach for internal control reviews starting from fiscal year 2024.

 

For more details, read the full report below.

Download the PDF to learn more

Download the PDF to learn more

We hope you find this update useful. Please feel free to reach out to the team directly should you have any questions.

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