Islamic banking has witnessed significant growth and acceptance worldwide, with Saudi Arabia being at the forefront of this transformative movement. As the Kingdom's economy embraces Islamic principles, Chief Financial Officers (CFOs) must understand the implications of this shift in financial reporting and auditing practices. This article aims to shed light on the rise of Islamic banking, its future in Saudi Arabia, and the steps CFOs should take to adapt to this evolving landscape.
Transparency and accountability are crucial for building trust, fostering investor confidence, and ensuring the stability and integrity of financial systems. In Saudi Arabia, auditing is vital in promoting transparency and accountability across various sectors. This article explores the significance of auditing in Saudi Arabia, the key stakeholders involved, the regulatory framework, and the benefits it brings to the economy.
Digital currencies powered by blockchain technology have gained significant attention and adoption worldwide. In Saudi Arabia (KSA), the digital currency landscape is evolving, with increasing interest from individuals, businesses, and the government. This article explores the trends in digital currency, their adoption, their impact on the country, and the implications for taxation and financial reporting in Saudi Arabia.
Impairment of intangible assets and goodwill
We provide an overview of direct and indirect tax updates across the GCC
The International Accounting Standards Board (IASB) has issued a collection of narrow scope amendments to IFRS Standards.
Entities who are not resident and trade or provide services across Saudi Arabia are subject to withholding tax
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Saudi tax measures during COVID. The kingdom have introduced austerity measures which will support business leaders and SMEs across the country.
This HBR article summarises opportunities which businesses can harness during a crisis in order to build resilience.
For over 15 years Grant Thornton has been been reporting on gender diversity in senior management among the world’s mid-market businesses. In 2019, we used that data, and knowledge gleaned from a global campaign, to set out the blueprint for action. Find out how the Blueprint can help you deliver positive change.
Women in senior leadership positions pass critical 30% mark despite global pandemic.
We share an overview of the opening address which our leader, Imad Adileh shared at the 2021 Refuel Growth Global Conference
Foreign Direct Investment has increased in Saudi Arabia, increased global and investor confidence, along with the active vision 2030 programme is making it an attractive market to trade from
Recognised as one of the top twenty economies in the world (G20), the Kingdom of Saudi Arabia continues to be positioned as a key global market, particularly given it holds the world’s second largest oil reserve, is the largest exporter of oil and has the fifth-largest proven natural gas reserves, which have contributed to placing Saudi Arabia on the global map as a super-powerhouse.
IFRS news is your quarterly update on things relating to International Financial Reporting Standards (IFRS). We’ll bring you up to speed on topical issues and significant developments, provide comments and give our point of view.
The member firms within Grant Thornton International Ltd (GTIL) have extensive expertise in the application of IFRS. GTIL, through its IFRS team, develops guidance that supports its member firms’ commitment to high quality, consistent application of IFRS and is pleased to share these insights by publishing ‘Example Interim Consolidated Financial Statements 2020'.
This publication illustrates condensed interim financial statements for a six month accounting period beginning on 1 January 2020
Businesses of all shapes and sizes are trying to carve out competitive advantage by leveraging digital information. But owing to the increased use of personal data, it also creates vulnerabilities and inter-dependencies between two previously discrete threats – data privacy and cyber security.