The Securities and Commodities Authority has stated, in its new Governance Manual that is expected to be implemented after its publication in the Official Gazette, that there are 9 basic behaviors that auditors of public joint-stock companies are prohibited from undertaking during their performance of auditing or auditing the company's accounts or performing any additional technical services or works or Administrative or consulting related to his business that he is conducting, and which may affect his decisions and independence or any services or works that the Commission deems inadmissible to provide during the period he takes to review or audit the company's accounts, and in particular the following:

1- Any other accounting services or business related to accounting records and financial statements, with the exception of routine accounting services, which the auditor can provide to a company affiliated with the company whose accounts are audited when the following conditions are met:

That the subsidiary company is not material to the company whose auditor audits.

The size of these services should be clearly small in relation to the auditor and the subsidiary.

The auditor's performance of this service does not affect the financial statements of the parent company substantially.

2- Designing or implementing any information systems if they have a material impact on the financial statements or the related control systems.

3- Providing any internal auditing services or works by way of subcontracting.

4- Providing any actuarial services or works.

5- Providing any evaluation services or valuations for the company during the audit process or participating in it.

6- Providing any administrative services, business or recruitment services for the human resources working in the company's financial management or administrative positions in it, starting from the department heads and their administrative or supervisory positions or their equivalent.

7- Providing any services or business related to financial intermediation.

8- Providing any consultations.

9- Providing any services or business experience.

3 types

The authority added in the guide that, in return, three types of consulting and authorized work can be carried out, namely:

First: The auditor may provide investment advice to assist the client in preparing feasibility studies, strategic plans, capital restructuring consultations, and a special auditing or auditing service for companies that the customer intends to purchase.

Second: The audit committee should verify that policies and procedures have been put in place that prevent the auditor's employees from taking any decision related to the company's management, besides the auditor's employees who provided the above services do not participate in the audit process, in addition that the subject of the service is not of value and has an impact on the data Finance of the company whose accounts are audited.

Third: The auditor may submit supportive work related to a lawsuit pending before the courts.

According to the guide, there are 6 basic obligations for the auditor: to exercise the business entrusted to him independently and impartially, to monitor the company's business, examine the company's administrative and financial systems and internal audit systems, express an opinion on its effectiveness, and ensure its suitability for the proper functioning of the company’s business and maintain its money, and express an opinion on the validity of the data The company's financial and request to amend it if there is anything that affects its health.

It also includes verifying the company’s ownership of its assets and the legal obligations of the company, attending the meetings of the general assemblies and reading its report to the shareholders and answering the questions and inquiries of the company’s shareholders regarding the final financial statements, as well as informing the authority and regulatory authorities of any violations or obstacles and its details.

- Verify the company owns its assets within the basic obligations of the auditor.

- The auditor may submit support works of expertise related to a lawsuit pending before the courts.