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).
Saudi Arabia is transforming at an unprecedented pace. Vision 2030 is opening doors to new industries, bold initiatives, and global opportunities, an era where ambition meets action.
As organisations adopt more advanced digital tools, including AI-enabled applications, boards and audit committees must remain clear on one fundamental principle, that management owns outcomes, and audit verifies the governance and evidence that support them.
Local Content compliance in Saudi Arabia has entered a more mature and demanding phase. What was once treated as a supporting bid requirement is now a decisive factor in eligibility, scoring, and long-term contract sustainability. For organisations competing for government and strategic projects, local content is a core component of regulatory credibility.
Local content has firmly moved beyond being a regulatory obligation in Saudi Arabia. What was once viewed primarily as a compliance exercise is now a defining factor in winning contracts, strengthening competitiveness, and unlocking long-term value across the Kingdom’s most strategic sectors.
Saudi Arabia’s local content agenda is entering a new phase. What began as a policy lever to increase in-kingdom participation is evolving into a more mature, data-driven regulatory regime aligned with Vision 2030 objectives around economic diversification, industrial capability building, and long-term value creation.
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.
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.
In 2023, the International Sustainability Standards Board (ISSB) issued its first two international IFRS Sustainability Disclosure Standards (IFRS SDS), IFRS S1 ‘General Requirements for Disclosure of Sustainability-related Financial Information’ and IFRS S2 ‘Climate-related Disclosures’.
Revenue recognition is fundamental in all businesses, and it is important that it is recognised in a consistent and comparable way across industries and capital markets.
In today’s dynamic economic environment, accurately valuing businesses and assets has become more critical and more complex than ever. Within the Kingdom of Saudi Arabia, rapid economic transformation, increased M&A activity, evolving regulation, and global market fluctuations are redefining traditional valuation benchmarks. Volatility, whether triggered by shifts in oil prices, regional developments, or broader geopolitical risks, requires a more thoughtful and adaptable approach to ensure that fair value remains both reliable and defensible.
The government of the United States of America (US) has announced a series of changes in their economic and policy priorities. These include changes to import tariffs targeting major trading partners and the suspension of foreign development assistance.
The International Accounting Standards Board (IASB) has introduced IFRS 19, a standard designed to simplify financial reporting for subsidiaries that do not have public accountability. The standard, which becomes effective for reporting periods beginning on or after 1 January 2027, with early adoption permitted, represents a significant step forward in reducing the reporting burden while maintaining consistency with full IFRS.
Saudi Arabia’s healthcare sector is changing faster than ever. With Vision 2030 as the driving force, the Kingdom is moving toward a more digital, integrated, and private-sector-led healthcare system. This shift is not just about technology or investment; it’s about reshaping how care is delivered, how outcomes are measured, and how patients interact with the system.
Family businesses form the backbone of Saudi Arabia’s private economy, with Jeddah home to some of the Kingdom’s most established and diversified family enterprises. These companies are increasingly seeking external investment to fund growth, diversify portfolios, or prepare for public listings. In this environment, the role of a credible audit extends well beyond regulatory compliance. It becomes a key enabler of investor trust, demonstrating transparency, stability, and governance maturity.
Across today’s capital markets, from Riyadh to London, confidence in audit remains a critical foundation of effective governance and long-term value creation. Yet the growing gap between what stakeholders expect from audit and what is typically delivered has created a tension point that boards and executive teams can no longer ignore.