Read our insights

This publication is designed to give preparers and reviewers of IFRS financial statements a high-level awareness of recent changes to International Financial Reporting Standards. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones.

The new leases standard, IFRS 16, brings with it both greater transparency and a number of challenges for businesses. It requires companies to bring all operating leases on to the balance sheet for accounting periods starting on or after 1 January 2019, those still getting to grips with IFRS 16 need to act quickly to ensure compliance.

2022 saw profound changes in the world including Russia’s invasion of Ukraine, with its resulting energy crisis and the downgrade of global growth projections. I found myself increasingly proud of the collective resilience shown by Grant Thornton member firms, as they responded to these unique challenges while continuing to support their people and clients.

India and Saudi Arabia are uniquely positioned to collaborate and create a powerful start-up ecosystem due to their respective economic growth, demographic profiles, and strategic priorities. Both countries have firmly committed to fostering innovation and entrepreneurship, making them ideal partners in the global start-up landscape. Their convergence presents a unique opportunity for both countries to leverage each other’s strengths, foster innovation, and accelerate economic transformation.

The CII-Grant Thornton Bharat report, ‘Unlocking opportunities: India-Saudi Arabia start-up ecosystem convergence’, serves as a comprehensive guide, highlighting the recent collaboration between India and the Kingdom of Saudi Arabia in the start-up landscape. The report uncovers vast opportunities within the start-up ecosystem convergence and provides essential recommendations for investors, start-ups and policymakers to enhance and streamline this promising partnership.

Saudi Arabia (KSA) is undergoing a significant digital transformation across various sectors, and the accounting field is no exception. As technology advances, KSA's Chief Financial Officers (CFOs) have immense opportunities to harness digital tools and streamline financial processes. This article explores the digital transformation in KSA, the impact on accounting practices, and how CFOs can leverage technology to enhance economic efficiency and effectiveness.

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 an increasingly interconnected global economy, Saudi businesses are expanding beyond domestic borders, engaging in cross-border transactions to seize growth opportunities. While the benefits of international expansion are undeniable, such ventures also introduce complex tax implications. Properly optimising tax structures for cross-border transactions can help Saudi companies minimise tax liabilities and ensure compliance, ultimately enhancing profitability and competitiveness. This article explores critical tax strategies, opportunities, and risks for Saudi businesses engaged in cross-border transactions.

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.

In an increasingly interconnected global economy, Saudi businesses are engaging in cross-border activities more than ever. While the expansion opportunities are vast, they have significant challenges, particularly in taxation. Managing cross-border taxation requires navigating a maze of regulatory frameworks, compliance requirements, and initiatives like the Base Erosion and Profit Shifting (BEPS) project. This article explores the complexities of cross-border taxation for Saudi businesses and provides strategic insights for overcoming these challenges.

Transfer pricing has become a critical concern for multinational corporations (MNCs) operating in an increasingly interconnected global economy. In the Middle East, particularly in Saudi Arabia, recent reforms to transfer pricing rules have significantly reshaped the regulatory landscape, with far-reaching implications for MNCs. As the Kingdom pushes forward with its Vision 2030 goals, fostering a more transparent and competitive business environment, it is positioning itself at the forefront of global tax regulation, including transfer pricing.