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    Impact of IFRS Convergence on Saudi Arabian Businesses Streamlining Financial Processes through Digital Transformation in Accounting
    3 min read | 30 Jul 2023
    The International Financial Reporting Standards (IFRS) have emerged as a globally accepted accounting framework to enhance transparency, comparability, and consistency in financial reporting. As businesses in Saudi Arabia strive to strengthen their position in the global economy, converging to IFRS becomes a crucial step towards achieving international recognition and credibility. This article explores the impact of IFRS convergence on Saudi Arabian businesses, shedding light on the challenges they might encounter during the transition and the benefits they can reap in the long run.
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    Showing 16 of 21 content results
    Tax Insights Significant Amendments to Saudi Arabian Tax and Zakat Regulation
    In a recent development, the Saudi Arabian Ministry of Finance has sanctioned a series of amendments to the income tax and Zakat regulations. These changes, published in the Official Gazette on September 12, 2023, are expected to substantially impact businesses operating in or with Saudi Arabia. Here, we delve into the nuances of these amendments and what they signify for the corporate sector.
    Adel Daglas
    Mohamed Hwitat
    | 3 min read | 25 Sep 2023
    Tax Alert Phase Two of E-Invoicing
    The Zakat, Tax and Customs Authority (ZATCA) published its e-invoicing regulations on 4 December 2020, which was also effective from the date of publication. The regulations stipulated that e-invoicing would become mandatory for taxpayers by 4 December 2021. As phase one draws to an end, phase two becomes enforceable from 1 January, 2023 in waves. Taxpayers must ensure they are prepared.
    Adel Daglas
    Adel Daglas
    | 1 min read | 25 Oct 2022
    Blog The Value of Due Diligence
    In the business world, due diligence is commonly used in mergers and acquisitions (M&A) transactions, where one company intends to buy another. In these cases, due diligence typically refers to the process of investigating a target company's financial and operational condition prior to the acquisition. The goal is to identify any potential problems or risks that could lessen the value of the target company or make the deal less attractive. Failure to conduct due diligence can have severe consequences, as illustrated by the Enron scandal.
    Imad Adileh
    Imad Adileh
    | 3 min read | 16 Jun 2022
    Tax Insights The GCC Tax Landscape
    As the GCC region moves away from an era of oil dependency, many of its member states are implementing new taxes as part of a wider fiscal reform agenda. Economic diversification has been a key focus for policymakers in recent years, and taxes are seen as one way to generate non-oil revenue and promote sustainable growth.
    Adel Daglas
    Adel Daglas
    | 5 min read | 22 May 2022
    Cyber-Security Cyber Security Challenges Facing KSA's Financial Services
    As Saudi Arabia moves towards an age of increased digital participation, local financial institutions have begun to digitise their services to keep up with the global trend. While this shift towards modernisation offers vast potential benefits for businesses and consumers alike, it also introduces new cyber security risks, which must be addressed.
    Ahmad Al Zoubi
    Ahmad Al Zoubi
    | 3 min read | 01 Apr 2022
    Risk Management KSA Tech Transformation & The Need For ERM
    Traditional risk management has been an essential facet of every large enterprise for decades. However, this framework faces certain limitations that prevent it from fully addressing business risk in the current landscape.
    Ahmad Al Zoubi
    Ahmad Al Zoubi
    | 3 min read | 31 Mar 2022
    Cyber Security The Future Of Cyber Security In Saudi Arabia
    The cyber security landscape is constantly evolving, and businesses must stay ahead of the latest threats to protect their data and networks. In Saudi Arabia, the importance of cyber security is becoming increasingly clear as the country moves towards Vision 2030.
    Ahmad Al Zoubi
    Ahmad Al Zoubi
    | 4 min read | 21 Mar 2022
    Sustainability From voluntary to mandatory ESG: How banks can future-proof their operations
    As we move from voluntary ESG initiatives to mandatory legislation, we explore what the banking sector needs to prioritise.
    7 min read | 15 Nov 2021
    Personal Data Protection Law in KSA Personal Data Protection Law in KSA
    The Personal Data Protection Law (PDPL) was implemented by Royal Decree M/19 of 9/2/1443H (16 September 2021) approving Resolution No. 98 dated 7/2/1443H (14 September 2021). It was published in the Official Gazette on 24 September 2021. The Saudi Data & Artificial Intelligence Authority (SDAIA) will supervise the implementation of the new legislation for the first two years, following which a transfer of supervision to the National Data Management Office (NDMO) will be considered.
    2 min read | 16 Oct 2021
    TMT Insights TMT industry: Fully charged or on standby?
    We explore whether TMT businesses can seize the opportunities of growing demand, or if they will be held back by the challenges presented by regulation and access to talent.
    9 min read | 09 Jun 2021
    Retune your business Local Regulations
    Regulatory changes can be challenging at the best of times but with many businesses focused on day-to-day survival, recent rule changes have proved particularly problematic. In the early stages of the pandemic, governments had to act quickly to protect lives and support the economy, meaning businesses had little time to prepare. As attention turns to the future and recovery, further regulatory changes are inevitable. With many governments talking about a ‘green recovery’ environmental, social, and governance regulations may tighten.
    13 Dec 2020
    Retune your business Operational Agility
    The mid-market already had a reputation for agility but the COVID crisis has forced leaders to take an even closer look at how their operations can be more responsive. As they prepare for the future, businesses are taking stock of their existing operations and questioning whether they are fit for purpose.
    12 Dec 2020
    Retune your business Risk and Governance
    The global pandemic has provided an enormous shock to businesses and, for many in the mid-market, fundamentally tested their ability to deal with crisis and disruption. We share insights relating to the risk and governance elements and how this can support in the effort to retune a business.
    12 Dec 2020
    Tax Alert: New 5 per cent tax on real estate transactions in Saudi Arabia. Tax Alert: New 5 per cent tax on real estate transactions in Saudi Arabia.
    Tax Alert: New 5 per cent tax on real estate transactions in Saudi Arabia.
    03 Oct 2020
    Cyber security awareness for employees Cyber security awareness for employees
    In recognition of cyber awareness month, we share insights for businesses and employees, which will mitigate risk and enable a more secure and safe cyber environment.
    03 Oct 2020
    Cyber security awareness for business leaders Cyber security awareness for business leaders
    In recognition of cyber awareness month, we share insights for businesses and employees, which will mitigate risk and enable a more secure and safe cyber environment.
    03 Oct 2020
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