9/9/2025
Page Content
The Saudi Ministry of Finance, represented by the Accrual Accounting Center, concluded its participation in the Public Sector Standard Setters Forum, held in Lisbon, Portugal 7-9 September 2025.
The participation of the Ministry of Finance (MoF) in the forum session entitled “Shaping Tomorrow Together – Embarking on The Journey" reflects its commitment to achieving the objectives of Saudi Vision 2030 by building a solid and transparent financial system. The transition to the accrual basis serves as a cornerstone of governance, contributing to more efficient resource allocation, better decision-making, and enhanced accountability and transparency. This participation also stems from the importance of sharing the Saudi experience, with its enablers and applicable lessons, to expand its impact and promote knowledge exchange.
The MoF team also participated in the IPSASB Work Program proposals session, delivering a briefing on a priority project related to the accounting treatment of technology assets and databases. This was followed by a roundtable discussion on the proposal to explore the scope of the suggested project, its global impact, and its feasibility within the Board's resources and standards.
At the Forum's accompanying exhibition, the MoF team introduced Saudi Arabia's latest accrual-based transformation projects and lessons shared via a platform that features a QR code for the “Transformation Journey" handbook, as well as introductory materials highlighting the transformation process and its impact on enhancing the reliability and transparency of financial reporting.
The participation of the Saudi Ministry of Finance in this international event reflects its keenness to highlight the Kingdom of Saudi Arabia's global standing, in line with its strategic orientations towards achieving the objectives of Saudi Vision 2030.
|
Last Update :
9/10/2025 12:57 PM