All companies listed on the Saudi Capital Market Authority (CMA) are required to prepare consolidated and interim financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted in the Kingdom and aligned with the requirements of the Saudi Organization for Certified Public Accountants (SOCPA).

In addition, many large private groups and multinational subsidiaries operating in Saudi Arabia voluntarily report under IFRS to enhance transparency, facilitate consolidation and align with global reporting standards.

Technical IFRS Advisory

IFRS application requires careful assessment of commercial substance, contractual arrangements and financial reporting impacts. Our specialists provide guidance across complex standards, including:

• IFRS 15 – Revenue from Contracts with Customers
• IFRS 16 – Leases
• IFRS 9 – Financial Instruments
• IFRS 3 – Business Combinations
• Consolidation and group reporting requirements
• Impairment and valuation considerations

IFRS Conversion and Implementation

For organisations transitioning to IFRS, a structured implementation approach is essential. BDO Saudi Arabia supports clients throughout the conversion process while maintaining audit independence where required.

• Impact assessment and diagnostic review
• Project management of IFRS conversion
• Accounting policy development
• Systems and process enhancement
• Staff training and technical workshops

Sustainability and Integrated Reporting

The introduction of IFRS Sustainability Disclosure Standards (IFRS S1 and IFRS S2) is expanding reporting expectations to include climate-related and sustainability disclosures. We support organisations in assessing readiness and integrating financial and non-financial reporting frameworks.

Multinational and Cross-Border Reporting

As part of the global BDO network, we coordinate with international member firms to support multinational groups with reporting alignment, consolidation and cross-border technical accounting matters.

Why BDO Saudi Arabia

• More than 45 years of presence in the Kingdom
• Deep expertise in SOCPA-aligned IFRS reporting
• Partner-led technical advisory
• Experience supporting listed and multinational organisations

Contact Our IFRS Advisory Team

To discuss IFRS implementation, complex accounting matters or sustainability disclosure requirements in Saudi Arabia, please contact our Audit and Assurance team to submit a request for proposal.