Manama: The Auditors’ Disciplinary Board, which held its sessions at the Ministry of Industry and Commerce, decided to fine two audit offices with five thousand BDs each. The decision was taken following the identification of violations related to Decree-Law (15) of 2021 concerning external auditors, alongside breaches of professional principles and responsibilities.
According to Bahrain News Agency, the violations included actions that harm the dignity of the profession and non-compliance with international standards on auditing and financial statements. These findings led to the board’s decision to impose financial penalties on the audit offices involved.
The Ministry underscores its commitment to taking legal and administrative measures against any audit firm in violation of the laws in force, emphasizing the importance of adhering to established standards and regulations in the auditing profession.