Saudi regulator’s Mobily​ probe affects former board member: Report

02/03/2015 Argaam

Saudi Arabia’s Capital Market Authority (CMA) said its investigations into Etihad Etisalat Company’s (Mobily) financial statements will also affect a former member of the teleco’s board, according to a report published by Asharq Al-Awsat newspaper.

The market regulator said it ​is currently conducting its review of the company's practices that may have

led to its​ dubious financial statements reported in 2014​. 

The CMA assigned its own independent audit team last week to review Mobily’s financial statements.

Early investigations into the operator's case started in November when the regulator first suspected that the company had been violating market laws and listing regulations.
 

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