FINANCIAL TRANSPARENCY IN THE KINGDOM OF SAUDI ARABIA AND ITS ROLE IN ACHIEVING ECONOMIC STABILITY
Keywords:
considerable, economic stability, transparencyAbstract
From an accounting standpoint, transparency is a fundamental criterion. In its absence, accounting practices become arbitrary and unprofessional. A collection of accounting variables comprises financial transparency, specifically financial reporting, accounting standards, and auditing. Economic stability is the paramount objective of government policies across all nations, regardless of its attainment. The paramount element of economic stability is financial extrapolation. Consequently, the two are frequently interconnected and are mutually reinforcing. The research seeks to examine the effects of financial transparency on various economic indicators, the strategies to address the challenges encountered, and the insights gained from these experiences. The research produced several conclusions, the most significant of which was that achieving economic stability through financial transparency necessitates extensive strategic planning, to be executed incrementally. It necessitates absolute consistency and coherence between the institutions governing financial systems and those overseeing legislation. The Kingdom of Saudi Arabia has effectively surmounted considerable milestones on this journey. Keywords: financial transparency, economic stability, financial reporting, international accounting standards.
References
Abdo, Ahmed Abdullah Khalil (2023). The Impact of Environmental Accounting Practices on the Quality of
Accounting Earnings and Their Impact on the Efficiency of Financial Performance in Saudi Business
Establishments, Alexandria Journal of Accounting Research (9)7.
Ahmed, A. (2022). The Impact of Financial Reporting on Corporate Transparency (Master's Thesis, University
of Baghdad).
Al-Jaarat, Khaled Kamal (2006). Fair Value Measurement According to International Accounting Standards, The
Seventh International Professional Scientific Conference on Fair Value, Amman, Jordan.
Al-Khaqani, Maitham (2005). Disclosure in the Governmental Accounting System: A Study of a Sample of
Countries (Master's Thesis), University of Baghdad.
Al-Qudah, Mustafa Abdullah Ahmed (2020). The Impact of Applying International Accounting Standards on
Saudi Companies, Economic Additions Journal (4)1.
Al-Rashed, Wael Ibrahim (2008). Global Financial Crisis Management Patterns and the Development of
Accounting Legislation, Kuwait University, Middle East Affairs Journal, (103)10.
Al-Sayeh, Mani' Al-Hamid (2002). Globalization and its Impact on International Accounting Standards and its
Implications for Accounting Applications in Developing Countries, Al-Idari Journal (90)9, Beirut.
Al-Shammari, Nahla Abis Talal, Al-Tamimi, Amal Muhammad Salman (2022). Challenges Facing Accounting and
Auditing in the Light of Digital Currencies - A Field Study (18) Special.
Al-Talha, Hamid Dawood (2000). International Accounting Standards: Origins and Concept. International Forum
on International Accounting Standards, February 5-6, Amman, Jordan.
Arab Society of Certified Accountants, (2005). International Financial Reporting Standards, Full Text of All
International Financial Reporting Standards.
aranco.com/ar/news
Basheikh, Felemban, Al-Nimri, and Basudan (2006). Accounting Standards in Saudi Arabia, King Abdulaziz
University (20)16.
Briguglio L, et al. (2008), "Economic Vulnerability -and- Resilience: Concepts and Measurements", United
Nations University, World Institute for Development Economics Research, Research paper No. 2008/55/May.
Global Financial Stability Report, (2024). Steadying the Course: Uncertainty, Artificial Intelligence, and Financial
Stability, October 22.
https://cma.org.sa/AboutCMA/Pages/FinancialLeadership2020.aspx
International Financial Reporting Standards, (2024). Financial Reporting for International Standards, Riyadh.
Majeed, Fatima Hayawi (2018). The Quality of Financial Reporting in Attracting Foreign Direct Investment:
Master's Thesis, Al-Qadisiyah University.
Qandil, Yasser Saeed (2018). The Impact of the Accounting Limit on the Efficiency of Investment Decisions of
Companies Listed in the Saudi Stock Market, Alexandria Journal of Accounting Research (5)1.
Sorvola.com/about-us/history/ http://www.
www.mubasher.info
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
