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The role of the Chief Financial Officer in the Kingdom of Saudi Arabia is undergoing a significant transformation. Traditionally recognised as the guardian of financial reporting, compliance, treasury and capital discipline, the CFO is increasingly expected to contribute directly to strategy, transformation, risk management and long-term value creation.

IFRS 17 ‘Insurance Contracts’ (IFRS 17 or the Standard) establishes a principle-based framework for the recognition, measurement, presentation and disclosure of insurance contracts, based on a current fulfilment value approach.

IFRS 17 ‘Insurance Contracts’ (IFRS 17 or the Standard) introduces a comprehensive, principles-based framework for the recognition, measurement, presentation and disclosure of insurance contracts, introducing a globally consistent approach to accounting for insurance liabilities.

The Zakat, Tax and Customs Authority (ZATCA) has announced Wave 25 of Phase Two (Integration Phase) of E-Invoicing (FATOORAH).

The International Accounting Standards Board (IASB) published IFRS 17 ‘Insurance Contracts’ (IFRS 17 or the Standard) which became effective on 1 January 2023.

IAS 7 ‘Statement of Cash Flows’ was introduced in 2001 and the accounting principles have remained largely unchanged since.

Saudi Arabia's business landscape has undergone a remarkable transformation. Driven by Vision 2030, regulatory reforms and significant economic diversification initiatives, the Kingdom has become one of the world's most attractive destinations for foreign investment and business expansion.

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.

A practical overview of the ZATCA refund mechanism, eligibility, and how non-resident companies can recover Saudi VAT.

Artificial intelligence (AI) is reshaping supply chains, shifting them from fragmented and reactive structures into connected, intelligent networks capable of continuous optimisation and increasingly autonomous execution.

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.

Saudi Arabia’s sports sector is undergoing a profound transformation as part of Vision 2030. The Kingdom is investing in modern infrastructure, professional leagues and innovative sporting ventures to position itself as a regional and global hub for sport. This transformation is reshaping the economic landscape of sports, with a focus on club privatisation, the growth of esports and the adoption of business excellence practices across organisations.