Muscat: The Financial Services Authority (FSA) has issued a circular calling on all applicants who previously submitted registration and licensing applications to practise the accounting and auditing profession through the Ministry of Commerce, Industry and Investment Promotion to update and complete their registration and licensing procedures with the FSA.
The circular comes in line with the transfer of the accounting and auditing profession’s regulatory responsibilities to the FSA pursuant to Royal Decree No. 20/2024 establishing the Financial Services Authority and issuing its Statute. The circular specifies that applicants must complete the required registration and licensing procedures and submit all necessary documents within 30 days from 2 June 2026.
The circular further states that any procedures or approvals granted prior to the issuance of the Royal Decree will be deemed invalid if applicants fail to complete the required procedures within the specified period. The FSA has urged all concerned parties to complete their applications through the designated electronic channels.
The issuance of this circular forms part of the FSA’s efforts to fulfil its responsibilities in regulating, supervising, and overseeing the accounting and auditing profession. It also aims to ensure the accuracy of the Accountants and Auditors Register and verify that applicants seeking registration meet the approved legal requirements.
