Corporate Governance Compliance Course for Saudi Listed Companies

Corporate governance compliance means operating the direction and control of a company so that its board, committees, disclosures and transactions meet the applicable rules and can be evidenced. In Saudi Arabia, listed companies answer to the CMA Corporate Governance Regulations, the Companies Law and its implementing regulation for listed joint stock companies, and the Saudi Exchange's listing framework. The stakes are concrete: board composition defects, undisclosed related-party contracts and unsupported board-report claims are the findings that damage issuers. This course teaches you to run the framework and prove it works.

It covers the full listed-company governance cycle: the regulatory architecture and Main Market versus Nomu applicability, shareholder rights and general assemblies, board composition and independence, board duties and the chairman/CEO separation, board procedures and evaluation, conflicts of interest and related-party transactions, the audit committee and internal audit, the nomination, remuneration and risk committees, disclosure and continuing obligations, and the governance compliance programme. Every lesson uses a Saudi listed-company scenario, and every practice exercise comes with a model answer.

This is an advanced course, suitable for governance professionals, compliance officers, company secretaries, legal counsel, internal auditors and consultants who already work with board-level processes. No specific qualification is required, but the course assumes working familiarity with corporate structures. If you are new to governance, you can complete it, but expect to use the full 10 to 14 hours and to lean on the model answers while you build the vocabulary.

The Certificate of Completion is the Imtithal Academy Certificate of Completion. It evidences that you completed the course and passed the final assessment, and you can add it to your CV, LinkedIn profile or employer training records. It is not a legal qualification, a professional licence or government accreditation, and no authority issues or endorses it. The course is education, not a regulatory credential.

No. The course is education: it teaches the governance framework, the verification habits and the documentation practices for listed-company governance work. It does not constitute legal advice and does not create an adviser relationship. Real positions depend on the company's bylaws, market, sector and the current official texts, so for decisions specific to your circumstances, consult your legal function and verify the current provisions on the official CMA and Saudi Exchange sources.

The course works from the CMA Corporate Governance Regulations issued by Resolution 8-16-2017 and amended by Resolution 8-5-2023, the Implementing Regulation of the Companies Law for Listed Joint Stock Companies as amended by Resolution 3-44-2026, and the Companies Law issued by Royal Decree M/132. Article references follow the CMA's official English translations, and every claim carries its verification date. Where a provision could not be verified against an in-force text, such as specific Listing Rules deadlines, the course teaches the verification habit instead of asserting a figure.

As two separate tracks that must not be confused. The notification track comes from Article 41(6) of the Corporate Governance Regulations: a related-party contract at or above one percent of the company's total revenues per the last annual audited financial statements is notified to the Authority and the public without delay. The approval track comes from the implementing regulation: the board may authorise within a valid delegation (below one percent of revenues and below SAR 10 million, with further conditions), and the Ordinary General Assembly authorises otherwise. The course trains the calculation, the aggregation check and the documentation for both.

Yes, in a full module. You learn Article 51's formation rules, including the three-to-five membership, the ban on executive directors, the finance and accounting specialist, the independence requirements and the two-year cooling-off for finance, executive and audit-firm personnel, and Article 52's four competency streams covering financial reports, internal audit, the external auditor and compliance. Advanced case studies train the committee's challenge and follow-up work, and the internal control framework of Articles 70 to 73 completes the picture.

Each of the 10 modules ends with a 10-question quiz, 100 questions in total, with the correct answer and an explanation shown after each question. The final assessment has 40 unique multiple-choice questions built to a published blueprint covering the framework, shareholder rights, board composition and duties, procedures, conflicts and related-party transactions, committees, disclosure and implementation. The pass mark is 70% (28 of 40) with up to 3 attempts. The capstone, a 12-month governance compliance roadmap, is self-assessed against a rubric with a model answer.

The content was prepared in October 2026 against the CMA's official English translations of the Corporate Governance Regulations (as amended by Resolution 8-5-2023, with several amendments effective 1 January 2024) and the Implementing Regulation for listed joint stock companies (as amended by Resolution 3-44-2026). The course also trains the habit that keeps you current: locate the official text, record the version and date, and reassess when instruments change, which matters because the framework has been amended repeatedly in recent years.