Corporate reporting in the KSA has changed. IFRS has been introduced for accounting periods beginning on or after 1 January 2017. Companies reporting under IFRS now have to consider the commercial, taxation and accounting implications of the changes.
Companies which adopt IFRS will also need to consider the changes being brought about by the introduction of IFRS 15 on accounting for revenue and and IFRS 16 accounting for Lease. Whichever accounting frameworks your organisations adopt, at BDO we have the skills and expertise to deliver support and advice on their first time adoption or on specific accounting treatments.
The rate of change in corporate reporting does not slacken – but we can keep you informed about the nature of the changes and help you understand their impact on your business.