A Company must maintain appropriate records; prepare financial statements in accordance with the International Financial Reporting Standards (IFRS) frameworks pursuant to the Financial Regulations and Takaful Regulation, as the case may be, and the instructions of the Central Bank; and publish annual financial statements bearing the opinion of an external auditor approved by the Central Bank. Governance requirements for financial reporting and external audit must be adhered to according to the accompanying Standards, Financial Regulations, and Insurance Authority's Broad of Directors' Decision No. (19) of 2020 Concerning the Guidance Manual for Insurance Companies and Related Professions to Submitting the Data, Information and Supervisory Reports.