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Saudi Arabia Wins First-Ever Seat in International Auditing and Assurance Standards 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 Saudi Arabia on the International Auditing and Assurance Standards Board (IAASB) for a period of three years.
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 Saudi Arabia on the International Auditing and Assurance Standards Board (IAASB) for a period of three years.
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Saudi Arabia Wins First-Ever Seat in International Auditing and Assurance Standards 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 Saudi Arabia on the International Auditing and Assurance Standards Board (IAASB) for a period of three years.
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 Saudi Arabia on the International Auditing and Assurance Standards Board (IAASB) for a period of three years.

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, SPA said on Thursday.
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.

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Saudi Energy Minister Emphasizes Importance of Balancing Growth, Energy Security

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz. Photo: Energy Ministry account on X
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz. Photo: Energy Ministry account on X
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Saudi Energy Minister Emphasizes Importance of Balancing Growth, Energy Security

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz. Photo: Energy Ministry account on X
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz. Photo: Energy Ministry account on X

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz participated in the Energy Transitions Working Group meetings, the 15th Clean Energy Ministerial and the 9th Mission Innovation Ministerial, held this week in Foz do Iguacu, Brazil, where he emphasized the importance of balancing economic growth and energy security.
The meetings focused on sustainable energy policies and equitable energy transitions within G20 efforts to enhance international cooperation aimed at achieving environmental sustainability and supporting innovations in clean energy technologies.
Prince Abdulaziz emphasized the importance of balancing economic growth, energy security, and climate change mitigation. He highlighted the Kingdom's leadership in Carbon Capture, Utilization, and Storage (CCUS) technologies, as well as its commitment to leading by example in leveraging circular carbon economy technologies, and affirmed the Kingdom's ambition to become a global leader in the production and export of clean energy.
Prince Abdulaziz also outlined Saudi Arabia's efforts to increase its renewable energy capacity, which is expected to reach approximately 44 gigawatts by the end of 2024, and touched upon the establishment of a hydrogen production hub in Ras Al Khair Industrial City, along with a major carbon capture and storage project, which will have a capacity of 9 million tons annually by 2027.