Login Login to view your dashboard

 General Department of Corporate Governance and Compliance

 

This Administration is associated with the Assist. Deputy Ministry for Corporate and Chambers of Commerce Affairs.

Objectives:
Ensure compliance of companies with relevant Rules & Regulations, governing the corporate sector in the Kingdom.

Functions:
  • Prepare the annual plan for the administration and implement that after the necessary approval.
  • Implement the programs relevant to the administration activities after getting the approval.
  • Supervise and coordinate with other departments in the Ministry to accomplish joint works.
  • Supervise and verify the corporate commitment regarding the governance controls.
  • Follow up the implementation of the provisions of Rules and Regulations governing the establishment and control of companies.
  • Follow up the inspection process on companies and monitor their implementation of the provisions of commercial legislation.
  • Follow up holding the General Assemblies of companies and their financial statements.
  • Follow-up the corporate commitment, study and examine the violations related to governance controls.
  • Follow up the corporate governance indicators, such as the level of accumulated losses and the passing rate of the statutory reserve of annual profits and the extent of the company's commitment to the trade and investment regulations.
  • Contribute to the study of amendments on trade and investment regulations to ensure corporate governance, monitor any legislative shortages and propose ideas or advice.
  • Determine the needs of the general administration of manpower and financial credits and equipment and work to provide that after the necessary approval.
  • Prepare periodic reports on the activities and achievements of the administration, address any obstacles or difficulties and propose ideas for development.
  • Updating and organizing the records, data and statistics related to the activities of the administration, besides keeping archive for such records by making use of technology. 
  • ​Any other tasks assigned to the administration.

Last Modified 11 Apr 2019
Add Comment
Rate   
Share