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.
This edition looks at the revised Conceptual Framework for Financial Reporting. IASB publications: Amendments to IAS 19 and Proposed amendments to IAS 8. ESMA’s report on what European accounting enforcers have been doing in 2018 and EFRAG Discussion Paper on Equity Instruments – Impairment and Recycling
We look into BEPS Action 13 on Transfer Pricing Documentation and Country-by-Country Reporting
Grant Thornton is pleased to launch our annual Women in business 2018 report beyond policy to progress, which includes practical steps business leaders can consider to drive change and increase gender diversity in business
This edition looks at the potential effect of the recent US tax reforms on IFRS preparers with operations in America. IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers. Amendments the IASB has recently made to its Standards. A summary of recently issued Standards and a list of IASB publications that are out for comment.
Tips to overcome talent shortages. A rise in business optimism means more organisations are on the lookout for talent, but with demand outstripping supply, where does it leave SMEs
In the push to become transparent, businesses are disclosing vast swathes of information about themselves – yet many are becoming more opaque as a result.
Many challenges lie ahead for any established, traditional HEIs that are resistant to change. Yet new ways to connect with students and employers around the globe will also present opportunities.
This publication provides a high-level summary of recent changes to IFRS that will affect companies' future financial reporting.
A lack of awareness is fuelling the surge in cyber crime but there are pragmatic steps that organisations can take.
This Special Edition of IFRS News explains the key features of the new Standard for revenue recognition and provides practical insights into its application and impact.
Competition for students in increasing, as traditional countries targeted for students grow their domestic capability and US HEIs ramp up their recruitment drive. Understanding the underlying factors driving students’ choices will help HEIs align their recruitment activities and attract the top students.
International student fees can significantly boost Higher Education Institutions’ (HEI) financial results. But competition is increasing for a piece of this lucrative market. Are you using the right techniques to capitalise on it?
The global IFRS team at Grant Thornton International Ltd has published consolidated example financial statements for the year ending 31 December 2016.
Practical insights and examples on IFRS 15 Revenue Recognition for companies in the real estate and construction industries.
More and more large businesses are investing in innovative mid-market companies as a shortcut to R&D. For investees, corporate venturing can offer a stable route to accelerated growth.
Introducing innovations such as artificial intelligence into your supply chain takes time and effort but it can help you leapfrog the competition