Riyadh – Mubasher: The Academy of Learning Company has announced the formation of its Audit Committee for the upcoming Board of Directors term, following a resolution passed by the board on 16 June 2026.

The newly appointed committee, which includes both independent board members and external experts, is scheduled to serve a four-year tenure concluding on 15 June 2030, according to a bourse filing.

This move aligns with the company’s commitment to robust corporate governance and financial oversight as it enters its new administrative cycle.

Academy of Learning confirmed that the committee’s term began concurrently with the new board cycle on 16 June 2026. Meanwhile, the selection process focused on securing a diverse range of expertise in legal, industrial, and financial sectors to ensure comprehensive monitoring of the company’s internal controls and financial reporting processes.

The committee is chaired by Hamoud bin Saud Al Harbi, an independent member appointed from outside the Board of Directors.

Al Harbi brings over 15 years of specialized experience in corporate governance and commercial business. As a legal consultant, he has served on several boards and committees of various joint-stock companies. He holds a Master’s degree in Commercial Law, a background expected to strengthen the committee’s oversight of regulatory compliance and legal risk management.

Joining the committee as an independent board member is Saadoon bin Khalid Al Khalidi, bringing a professional career spanning more than 20 years.

Al Khalidi has extensive experience across the industrial, medical, and investment sectors in both the public and private spheres. He currently holds several board memberships and possesses a Bachelor’s degree in Business Administration, providing the committee with strategic operational insights.

The third member of the newly formed body is Saad bin Abdulrahman Al Jammaz, who serves as an independent member from outside the board.

Al Jammaz specializes in financial analysis and accounting, with over five years of experience in the field. His expertise extends to the accounting and regulatory frameworks governing the financial sector. Having previously served on other audit committees and holding a Bachelor’s degree in Financial Management, he is positioned to provide technical scrutiny of the company’s financial statements and auditing procedures.

The company noted that no objections were raised by official authorities regarding these appointments, as the regulatory requirements for such positions were met.

The formation of the Audit Committee is a mandatory requirement under the Saudi Capital Market Authority’s (CMA) Corporate Governance Regulations.

The committee’s primary responsibilities include supervising the company’s internal audit department, recommending the appointment of external auditors, and ensuring the integrity of the firm’s financial disclosures.

By integrating external independent members with specific legal and financial qualifications, the Academy of Learning Company aims to maintain a high level of transparency for its shareholders and stakeholders throughout the 2026-2030 term.