Article 14 of the Saudi Real Estate Authority Statute

This Article regulates oversight of the Authority's accounts from two sides:

1. The General Auditing Bureau: the Article begins with the phrase "without prejudice to the jurisdiction of the General Auditing Bureau over oversight of the Authority's accounts and operations", meaning that appointing an external auditor neither cancels nor replaces the Bureau's oversight.

2. The external auditor:

• Appointing body: the Board of Directors, which also determines his fees.
• Number: one auditor or more.
• Capacity: from among those licensed to practice in the Kingdom.
• Task: auditing the Authority's accounts, transactions, statements, annual budget and final account.
• The report: submitted to the Board, and a copy is provided to the General Auditing Bureau.

The Authority is therefore subject to dual oversight: external professional oversight appointed by its Board, and government oversight by the General Auditing Bureau. Providing the Bureau with a copy of the report links the two.

Note that the auditor's task covers the annual budget and the final account together, not only the current accounts. This Article comes before Article 15, which makes the Statute effective from the date of its publication in the Official Gazette.