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With share-based payments becoming increasingly popular over the years with many entities, this article discusses the accounting for equity-settled share-based payment transactions with employees.
This article discusses the basic principles that apply to both equity-settled and cash-settled share-based payment transactions with employees or others providing similar services.
In April 2024, the International Accounting Standards Board (IASB) introduced IFRS 18: Presentation and Disclosure in Financial Statements, marking a significant shift from IAS 1. Effective for annual reporting periods starting 1 January 2027, IFRS 18 requires mandatory retrospective application, emphasising early preparation to ensure a seamless transition. We share below a high-level summary of the changes introduced, along with a detailed guide for your reference.
In recent years, the Kingdom of Saudi Arabia (KSA) has embarked on a transformative journey to diversify its economy, reducing its dependence on oil revenues. With Vision 2030 as a guiding framework, the nation actively explores opportunities across various non-oil sectors, such as technology, tourism, and logistics. Tax policies and incentives are central to this ambitious agenda, and they are increasingly seen as pivotal tools for stimulating growth and attracting investment in these emerging sectors. This article examines how the Kingdom's tax landscape is evolving to support its non-oil economy and unlock opportunities for domestic and foreign investors.
Saudi Arabia continues to attract global investors with its robust Vision 2030 reforms, economic diversification, and fast-evolving market dynamics. Mergers and acquisitions (M&A) in the Kingdom are expected to gain further momentum, driven by public and private sector initiatives, foreign direct investment, and liberalised regulations. However, successful transactions in Saudi Arabia require meticulous planning, especially regarding due diligence and transaction advisory.
Companies continuously explore ways to enhance their operational efficiency and compliance in today's dynamic business environment. One strategic approach that has gained momentum in Saudi Arabia (KSA) is outsourcing financial functions, including finance, accounting, and audit services. This growing trend is reshaping how businesses manage their internal processes and providing critical advantages for companies aiming to stay competitive and compliant with ever-evolving regulatory requirements.
When it comes to sustainable business, much is known and written about the world’s largest corporations given their obligations for reporting and transparency. However, the progress and actions of mid-market companies – the driving force of the global economy – have been largely ignored and unexplored.
Saudi Arabia's capital market is witnessing robust growth, driven by the nation’s economic diversification agenda, Vision 2030, and an increased focus on enhancing capital market accessibility. Companies looking to go public through an Initial Public Offering (IPO) stand to benefit from this buoyant environment. However, maximising IPO success requires meticulous planning, strategic decision-making, and a keen understanding of market dynamics. By adopting a comprehensive approach to IPO readiness, businesses can unlock significant value and capitalise on the opportunities in Saudi Arabia’s burgeoning capital market.
Mergers and acquisitions (M&A) are becoming an increasingly important strategy for family-owned businesses in Saudi Arabia. With the kingdom's ambitious Vision 2030 initiative driving economic diversification, family businesses have opportunities to expand their market footprint through strategic M&A. However, for family enterprises, these transactions come with unique challenges that must be carefully navigated to ensure long-term success.
The financial landscape in Saudi Arabia is undergoing a remarkable shift, driven by digital transformation initiatives aligned with Vision 2030. For Chief Financial Officers (CFOs) in the Kingdom, these changes present an opportunity to reshape financial management, reporting, and operational efficiency. By leveraging digital tools, CFOs can streamline core functions, enhance decision-making capabilities, enable real-time financial insights, and bolster compliance with ever-evolving regulations.
Environmental, Social, and Governance (ESG) principles have emerged as essential drivers of sustainable growth in the rapidly evolving global business landscape. In Saudi Arabia, this shift is notably aligned with the ambitious Vision 2030 programme, which seeks to diversify the economy, attract foreign investment, and foster sustainable development. By incorporating ESG principles, businesses in the Kingdom enhance their corporate governance frameworks, improve operational efficiency, and build long-term resilience. This article explores how Saudi businesses can leverage ESG factors to drive performance and remain competitive in an increasingly sustainability-conscious world.
As Saudi Arabia accelerates its digital transformation under the ambitious Vision 2030 initiative, robust cybersecurity measures have never been more critical. The Kingdom’s push towards a knowledge-based, tech-driven economy has opened doors to new opportunities. Still, it has also introduced a range of cybersecurity threats that could compromise sensitive data, business operations, and national security. This article explores the emerging cybersecurity risks in Saudi Arabia’s expanding digital economy and how businesses can safeguard their digital assets proactively.
In the dynamic landscape of Saudi Arabia's corporate sector, the audit function stands as a cornerstone of financial integrity and business accountability. As the Kingdom undergoes significant economic transformation under Vision 2030, the audit landscape is evolving to meet new challenges and expectations. This article delves into the art of auditing in Saudi Arabian companies, exploring recent and proposed changes in the audit system and analysing their impact on businesses and individuals.
The Kingdom of Saudi Arabia (KSA) has taken significant strides towards fostering a more sustainable and environmentally conscious economy in recent years. Central to this transformation is the concept of green financing, which refers to allocating capital for projects that deliver environmental benefits. These projects can range from renewable energy initiatives to sustainable agriculture, waste management, and water conservation efforts.
The Kingdom of Saudi Arabia (KSA) has long been an attractive destination for overseas investors due to its strategic location, abundant natural resources, and robust economic policies. In recent years, the Saudi government has implemented several reforms to further open the economy to foreign investment and improve the business environment. This article explores the auditing considerations that overseas investors must be aware of when trading with KSA, as well as recent and proposed changes in the regulatory landscape and their potential impact on businesses and individuals.
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.