Praxity member, Saudi Arabia-based AlKharashi& Co, has been appointed auditor for the Saudi stock market authority.

The firm secured the contract after a three month selection process during which time it demonstrated unrivalled knowledge of local laws and regulations and impressed the selection panel with its flexible, yet tailored workplace proposals.

AlKharashi& Co is ranked the fifth top accountancy business in the Kingdom with offices in Riyadh, Jeddah and Dammam. Founded in 1981, the firm has four partners and employs around 60 staff. It specialises in auditing, tax, Zakat, accounting and the provision of advisory services such as management consulting.

Partner, Sulaiman AlKharashi, heads up the International Standards of Auditing Committee at the Saudi Organisation for Certified Public Accountants (SOCPA).   The Committee’s responsible for the transition of using local Generally Accepted Accounting Principles and Standards (GAAP and GAAS) to the International Financial Reporting Standards (IFRS) and International Standards of Auditing (ISA) in 2017.

Praxity Chairman, Rick Anderson, comments: “We’re delighted to hear of this contract win – it is well deserved. Praxity participants are recognised as sector, country and global leaders and with AlKharashi& Co providing a 100% local service, their success comes as no surprise. This is yet another example of how Praxity’s participants more than punch their weight for industry leadership.”

To find out more about Praxity visit www.praxity.com