Assessing learners’ oral skills are considered as a crucial process in most EFL teaching and learning programs. However, it can be challenging for teachers to make a valid, reliable, and fair assessment. This study aimed to investigate Saudi college students’ and teachers’ point of views toward the effectiveness of oral assessment techniques used to assess learners speaking-skills in the EFL classroom. Two different questionnaires were administered to 12 EFL teachers and forty-two students’ who are majoring in English at the Languages and Translation College at King Saud University. Both quantitative and qualitative data were collected from respondents, treated statistically, analyzed and revealed in the following sections. The findings of the study revealed that EFL teachers are using a variety of communicative oral assessment techniques and are utilizing effective assessment procedures in assessing their students’ speaking skills. For students, the results revealed that students are generally satisfied with the assessment techniques and procedures that, teachers use in assessing their language performance. Recommendations and suggestions are offered for all concerned parties.