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As the global financial landscape undergoes rapid transformation, digital currencies have emerged as a pivotal element in this evolution. With its Vision 2030 initiative, Saudi Arabia is at the forefront of embracing technological advancements and fostering a modern, diversified economy. This article explores recent and proposed changes in Saudi Arabia's digital currency landscape and analyses their impact on businesses and individuals.

In recent years, Saudi Arabia has witnessed significant developments in its funding landscape, particularly aimed at supporting Small and Medium Enterprises (SMEs). These changes reflect the Kingdom's commitment to economic diversification and pose implications for auditing practices that oversee these financial flows. This article delves into the evolving funding sources, their implications for businesses and individuals, and the corresponding auditing challenges and opportunities.

Maximising profitability is a primary objective for businesses worldwide, and Saudi Arabian businesses are no exception. To achieve this goal, businesses in Saudi Arabia need to focus on key financial metrics and key performance indicators (KPIs) that are relevant to their specific industry and the unique economic landscape of the country. In this article, we will discuss the vital financial metrics and KPIs that SMEs and Mid-Market Businesses in Saudi Arabia should consider while also addressing the legal elements crucial to operating in this country.

In recent years, the landscape of corporate governance and auditing has been evolving rapidly, and one of the most transformative changes has been the rising importance of environmental, social, and governance (ESG) factors. Understanding and integrating ESG considerations into the audit process is becoming increasingly critical for corporate business leaders in Saudi Arabia. This article delves into why ESG factors are significant, how they impact the boardroom, and what steps corporate leaders can take to incorporate ESG into their corporate audit frameworks.

On 9 April 2024 the International Accounting Standards Board (IASB) published a new standard, its first since 2017. The new standard, IFRS 18 ‘Presentation and Disclosure in Financial Statements’ (the Standard) replaces IAS 1 ‘Presentation of Financial Statements’ and will impact every reporting entity that currently uses International Financial Reporting Standards (IFRS).

This year has brought significant updates to the International Financial Reporting Standards, addressing various global economic challenges. From amendments in response to hyperinflation in specific countries to changes enhancing the transparency of supplier finance arrangements, these updates are crucial for maintaining compliance and accuracy in financial reporting.

The International Accounting Standards Board (IASB) issued IFRS 17 ‘Insurance Contracts’ to replace the identically titled, interim standard, IFRS 4. The new Standard came into effect for reporting periods beginning on or after 1 January 2023. As its title suggests, IFRS 17 addresses the accounting for insurance contracts rather than being explicitly aimed at insurance entities. As a result, it applies equally to insurance contracts issued by insurance and non-insurance entities.

2024 marks the 20th year of Grant Thornton’s work to monitor and measure the proportion of women occupying senior management roles in mid-market companies worldwide. The Women in Business project has explored what helps and hinders women in the workplace during a period that has offered plenty of challenges. Global mid-market companies have navigated the financial crisis of 2007-08, worked through the pandemic, and currently contend with the impact of geopolitical tension and conflict.

Non-profit organisations are integral to any country's socio-economic development, in Saudi Arabia, charities play a pivotal role in addressing societal needs and fostering community welfare. With their noble missions and humanitarian endeavours, charities in the Kingdom undertake various activities, from assisting the underprivileged to supporting educational initiatives and healthcare services. However, the unique nature of non-profit operations, coupled with the regulatory landscape and cultural sensitivities in Saudi Arabia, necessitates a nuanced approach to auditing these organisations.

Saudi Arabia's Vision 2030, unveiled in 2016, represents a monumental leap towards economic diversification, technological advancement, and sustainable growth. This visionary initiative has not only reshaped the business landscape but has also profoundly influenced corporate auditing. In this detailed exploration, we delve into the multifaceted impact of Vision 2030 on corporate auditing practices in Saudi Arabia, uncovering the nuances that add substantial value to corporate firms and contribute to the overall dynamism of the Kingdom's market.

Saudi Arabia's economic landscape has radically transformed in recent years, becoming an enticing hub for domestic and international investors. As the Kingdom continues diversifying its economy, regulatory changes in corporate governance and financial transparency are sweeping through the business environment. This article is designed to provide a detailed and insightful guide to navigating the intricate regulatory landscape surrounding corporate audits in Saudi Arabia, offering valuable insights for corporate firms and contributing to the broader understanding of the Kingdom's market dynamics.

In the wake of global shifts towards responsible and ethical governance, the Kingdom is witnessing a robust surge in adopting Environmental, Social, and Governance (ESG) audits. Beyond being a compliance checkbox, ESG audits are becoming a transformative tool, guiding corporate firms towards a greener, more socially responsible, and ethically sound future.

In the ever-evolving corporate governance landscape, Saudi Arabia stands at a pivotal juncture, poised to leverage robust regulatory frameworks to bolster investor confidence and drive sustainable economic growth. At the heart of this transformation lies the effectiveness of audit committees—an indispensable component in safeguarding stakeholders' interests and fortifying organisational integrity. As the Kingdom charts its course towards Vision 2030, the efficacy of audit committees emerges as a linchpin, shaping the contours of corporate governance practices and fostering a culture of transparency and accountability.

Financial reporting and compliance are integral to operating a successful Small and Medium-sized Enterprise (SME) in the Kingdom of Saudi Arabia (KSA). Complying with financial regulations and maintaining transparent financial records are not just legal obligations but also crucial for your business's long-term sustainability and growth. This article aims to provide comprehensive insights into the strategies SMEs can employ to enhance their financial reporting and compliance in KSA while exploring innovative approaches to thrive in the evolving business landscape.

Ethical financial reporting is a fundamental aspect of modern business operations in Saudi Arabia. In an increasingly globalised world, financial transparency is not just a moral obligation but also a legal requirement for businesses. Ethical financial reporting ensures that investors, stakeholders, and the public receive accurate and reliable financial information about a company's performance.

Mergers and acquisitions (M&A) represent intricate transactions involving companies' consolidation to create value, expand market presence, or diversify business portfolios. In Saudi Arabia, M&A activity has surged, driven by economic diversification and the government's Vision 2030 plan. However, to successfully navigate the complex M&A landscape, businesses in the Kingdom must significantly emphasise financial due diligence. This article explores the crucial role of financial due diligence in M&A from a Saudi Arabian perspective and highlights the legal elements that businesses must consider.