Under the patronage of Dr. Majid Al-Qasabi, Minister of Commerce and Investment, the first edition of the Saudi Accountants Forum (SAF) kicked off yesterday under the slogan “The Accounting and Auditing Profession. The forum, organized by the Saudi Organization for Certified Public Accountants on the sidelines of the G20 meetings, will continue until tomorrow, Wednesday, January 29, at the Riyadh International Convention and Exhibition Center. The conference aims to demonstrate the important role played by the accounting and auditing profession in strengthening the components of the national economy and serving its institutions and controlling the work of enterprises of various types.
50 international and local speakers and experts
Many professional bodies, international institutes, accounting firms and Saudi universities are participating in the forum, which will include more than 50 international and local speakers and experts, in addition to launching initiatives that serve the profession and its future and holding many events at the accompanying exhibition in which more than 150 government and private sector entities are participating.
LaunchAccounting Concepts and Standards Guide
During the opening ceremony, the Public Sector Accounting Concepts and Standards Manual was launched in the presence and participation of Minister of Commerce and Investment Majid Al-Qasabi, Minister of Labor and Social Development Ahmed Al-Rajhi, and Minister of Education Hamad Al-Sheikh. The Public Sector Accounting Concepts and Standards Manual issued by the Accounting Accrual Center at the Ministry of Finance was prepared after an extensive study that took into account all international public sector accounting standards, based on the accrual basis, and identified the Kingdom's needs.
The Public Sector Accounting Concepts and Standards Manual was prepared by the Accounting Accrual Center in Saudi Arabia.
The number of approved topics covered in the guide is 40, including the conceptual framework for general purpose financial reporting, 36 standards, and 3 recommended guidelines, and the study attached to each standard includes an inventory of the amendments made to the international standard and the reasons for the amendments.
The study attached to each standard includes an inventory of the amendments made to the international standard and the reasons for the amendments.
First in the Middle East
The forum is the first of its kind in the Middle East, providing a platform for accounting firms, professional bodies, regulatory and oversight bodies, the public sector and commercial enterprises to formulate a vision of how the accounting and auditing profession can contribute to the realization of the Kingdom's Vision 2030.
The forum is the first of its kind in the Middle East.
An elite group of local and international specialists and stakeholders, in addition to a number of governmental and private entities, Saudi universities and local and international professional bodies.
The Ministry of Finance is participating in the exhibition accompanying the forum through a pavilion that presents the full details of the accounting transformation project, its objectives and stages, as well as the participation of a number of Saudi universities and official bodies.
