The Oman Financial Services Authority’s Professional Conduct Committee issued a warning to Oman International Audit and Consulting for violating auditing and professional standards. The committee found the firm carried out audits without obtaining necessary documentation, failed to retain audit files as required by law, and did not comply with International Auditing Standard 700 when preparing final audit reports. The FSA gave the firm a four-month grace period to rectify its practices.
Oman Financial Services Authority 2025-06-15
Oman Financial Services Authority warns Oman International Audit and Consulting for breaches of auditing standards and record-keeping requirements
The Oman Financial Services Authority's Professional Conduct Committee issued a warning to Oman International Audit and Consulting for breaching auditing and professional standards. The firm conducted audits without necessary documentation, failed to retain audit files, and did not comply with International Auditing Standard 700.