The Kuwait Capital Markets Authority suspended Ali Owaid Rakhis Awad’s registration in its auditors register for one calendar year, effective July 2, 2026. The action follows a Ministry of Commerce and Industry decision suspending him from professional practice for the same period. The auditor may continue work under existing appointment contracts with entities supervised by the authority until each client’s competent body approves his annual report, unless the authority decides otherwise.
Kuwait Capital Markets Authority2026-07-28
Kuwait Capital Markets Authority suspends auditor Ali Owaid Rakhis Awad's registration for one year
The Kuwait Capital Markets Authority suspended Ali Owaid Rakhis Awad’s auditor registration for one year from July 2, 2026, following a corresponding professional suspension by the Ministry of Commerce and Industry. He may complete certain existing engagements until the relevant client body approves his annual report, unless the authority decides otherwise.