MUSCAT : In its statement, the FSA stressed that all firms offering accounting and auditing services must hold a valid professional licence issued by the Authority in order to legally conduct such activities in the Sultanate.
The Authority clarified that a commercial registration (CR) alone does not constitute a licence to practise accounting or auditing. Holding a CR does not authorise any individual or office to provide professional accounting or auditing services without obtaining the FSA’s approval and official licence.
The FSA further emphasised that any contract or agreement involving auditing services entered into with a person or office that is not licensed by the Authority is considered invalid and will not be recognised.
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As part of its efforts to safeguard the integrity of the financial sector and ensure compliance with regulatory standards, the FSA has called on companies to consult the official and updated list of authorised offices available on its website before signing any contracts.
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