Muscat – As per the circular from the FSA, the proportion of Omanis within audit engagement teams responsible for reviewing the accounts of government institutions, public authorities, and public joint-stock companies needs to be least 50 percent, starting from January 2025.
The circular, directed to all accounting and audit firms, underscores the significance of Omanisation in these critical roles while adhering to the existing Omanisation percentages set by the Ministry of Labour for other types of teams.
The FSA further highlighted the need to develop the skills of national manpower in the fields of accounting and auditing, reinforcing the commitment to building a capable local workforce in the financial services sector.
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