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IFRS's Implications Of Saudi's Islamic Banks: A Systematic Literature Review

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"Goal: This study aims to analyze the implementation of the International Financial
Reporting Standards (IFRS) in the Kingdom of Saudi Arabia, particularly focusing
on the transition from the national Generally Accepted Accounting Principles
(GAAP) to the globally recognized IFRS. The research also seeks to evaluate how
the adoption of IFRS enhances transparency, accountability, and the overall
competitiveness of corporate financial reporting in Saudi Arabia.
Method: The study employs a qualitative descriptive method using a literature
review approach. Data were collected from secondary sources such as international
journals, publications from professional accounting bodies (including SOCPA and
IASB), and academic studies related to IFRS implementation in Middle Eastern
countries. The analysis involved identifying, comparing, and synthesizing major
findings from these sources to understand the challenges, adaptation strategies, and
impacts of IFRS adoption on the Saudi financial reporting system.
Fact/Finding: The findings reveal that the adoption of IFRS in Saudi Arabia has
improved the quality of financial reporting and enhanced the credibility of the
capital market. However, several challenges remain, including a shortage of IFRStrained professionals, differences in organizational culture, and the need to adapt
local accounting systems to IFRS principles. Furthermore, the study finds that
regulatory support from the Saudi Organization for Certified Public Accountants
(SOCPA) and strong government commitment are key factors contributing to the
successful implementation of IFRS at the national level."

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Availability

Detail Information

Series Title

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Call Number

REF 657.3 IHS i

Publisher

Bogor : Universitas Tazkia., 2025

Collation

MAKSY

Language

English

ISBN/ISSN

NIM.2320407006

Classification

657.3

Content Type

-

Media Type

-

Carrier Type

-

Edition

-

Subject(s)

IFRS
Financial Reporting
Transparency
SOCPA
Saudi Arabia
Accounting Standards

Specific Detail Info

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Statement of Responsibility

Muhammad Ihsan

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