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Share-based payment transactions are not limited to employees. Under IFRS 2 Share-based Payment, as adopted in Saudi Arabia, entities may also enter into arrangements with non-employees such as suppliers, consultants, and other providers of goods and services.
Share-based payments have become increasingly popular over the years, with many entities using equity instruments or cash and other assets based on the value of equity instruments as a form of payment to directors, senior management, employees and other suppliers of goods and services.
In 2024, the International Accounting Standards Board (IASB), issued a new Standard IFRS 18 ‘Presentation and Disclosures in Financial Statements’.
Revenue recognition is a key principle in financial reporting, underpinning the integrity and comparability of financial statements across industries and global markets.
Accurate and consistent revenue recognition is a cornerstone of sound financial reporting for all businesses, ensuring comparability across industries and markets.
Announced on April 15, 2026, the United States (US) Treasury Secretary and the Saudi Finance Minister signed a Tax Information Exchange Agreement (TIEA) between the US and Saudi Arabia. The signing, which took place on April 14, 2026, during a series of meetings in Washington, DC, focused on strengthening bilateral economic cooperation, covering the latest developments in the global economy and financial issues of common interest. For businesses and taxpayers operating across both jurisdictions, this agreement is a significant development but one that demands careful interpretation. It increases transparency and enforcement capability. It does not reduce tax bills.
The Zakat, Tax and Customs Authority (ZATCA) has moved decisively away from the old model of enforcement through punishment, and toward something more sophisticated: a system designed to reward honesty and encourage businesses to come forward before problems become crises. The principle is straightforward. Taxpayers who voluntarily disclose errors, submit missing documentation, or settle outstanding obligations promptly can qualify for partial or full waivers of the fines they would otherwise face. In practice, this means that a business which catches its own mistake and reports it stands in a very different position than one that waits to be caught. That distinction matters enormously, and it reflects a maturity in regulatory thinking that many jurisdictions have been slow to adopt.
The Zakat, Tax and Customs Authority (ZATCA), in collaboration with the Economic Cities and Special Zones Authority (ECZA), has launched a public consultation on the proposed Economic Substance Requirements (ESR) Regulations applicable to investors operating within Special Economic Zones (SEZs).
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.
Saudi Arabia has formally issued the much-anticipated regulatory frameworks governing several key Special Economic Zones (SEZs).
The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards (IFRIC) or amendments to existing IFRS Standards. In response to these, the global IFRS team publishes IFRS Alerts on these changes (and other issues relevant to IFRS) as they are announced so that you can keep up to date. Aldar Audit Bureau, Grant Thornton is pleased to share our Alerts with you below.
The Zakat, Tax and Customs Authority (ZATCA) of Saudi Arabia has recently introduced significant regulatory updates that sharpen compliance expectations across all sectors, including energy and petrochemicals. For companies operating in the Eastern Province, adherence to these developments is essential. Non-compliance poses operational, financial, and reputational risks. Given the complexity and scale of operations in the energy and petrochemical sector, it is critical to understand and embed these requirements in internal systems and controls.
Entities should begin preparing for IFRS 18 ‘Presentation and Disclosure in Financial Statements’ sooner rather than later. Changes from IAS 1 ‘Presentation of Financial Statements’ could have a significant impact on the financial statements.
In a step toward greater transparency and alignment with global best practices, the GCC Financial and Economic Cooperation Committee has approved a new methodology for calculating excise tax on sweetened beverages.
Our ‘IFRS Viewpoint’ series provides insights from our global IFRS team on applying IFRS Accounting Standards in challenging situations. Each edition will focus on an area where the Standards have proved difficult to apply or lack guidance. This edition provides guidance on some of the basic issues encountered in accounting for cryptocurrencies, focusing on the accounting for the holder.
The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. Each year, new Standards and amendments are published by the International Accounting Standards Board (IASB). These changes have the potential to significantly impact the presentation of a complete set of financial statements, and 2025 is no different.