With the exception of amendments to the interim condensed consolidated financial statements, which might have come to our attention had it not been for the situation described above, based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial statements are not prepared, in all material respects. In accordance with International Accounting Standard No. (34) approved in the Kingdom of Saudi Arabia.

Basis for a conservative conclusion

As shown in the interim condensed consolidated statement of financial position and Note No. (7), the balance of the right to use assets and leasing obligations as of March 31, 2024 amounted to 25.6 million Saudi riyals and 23.9 million Saudi riyals, respectively (December 31, 2023: 28). (8 million Saudi riyals and 26.8 million Saudi riyals, respectively). During the year ending on December 31, 2023 AD (the comparison year and period), the group’s management recorded additions and exclusions from lease contracts under the right to use assets clause and the leasing obligations clause during the year. We did not reach a degree of conviction about the calculation method and the correctness of the accounting treatment related to those transactions and their impact on the comparison year and period. Whether it should be accounted for in previous years in the consolidated financial statements, and we were not able to determine the impact of this on the depreciation of improvements to the leased buildings included in property and equipment and the reasonableness of the depreciation rates used by the group and their proportionality to the terms of the lease contracts or not (Note (6)) The balance of other income, which appears in the preliminary condensed consolidated statement of profit or loss and other comprehensive income for the period ending on March 31, 2024, also included sublease revenues recognized by the group in the amount of 0.9 million Saudi riyals for the period ending on March 31, 2023: 0. 9 million Saudi riyals, for the year ending December 31, 2023 (3.2 million Saudi riyals). The Group did not evaluate whether the sublease contracts represent operating or finance leases in accordance with the requirements of International Financial Reporting Standard No. 16 (Leases). Accordingly, we were not able to verify the accuracy of the recognition of other income and the receivables arising against it in the amount of 3.8 million Saudi riyals as at March 31, 2024 (December 31, 2023 (3.9 million Saudi riyals), and we were not able to determine whether Were there any adjustments necessary in the current period or in prior periods and years and the impact of those matters on the interim condensed consolidated financial statements.

Something else

The Group’s interim condensed consolidated financial statements for the three-month period ending on March 31, 2023 were examined by another auditor, who expressed an unmodified conclusion on those interim condensed consolidated financial statements on Shawwal 2, 1444 AH (corresponding to May 22, 2023 AD).

The company assures its valued shareholders of its constant keenness to follow best practices by implementing internal policies and procedures, which are reviewed periodically to ensure their effective application.