INSIGHTS 4

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VAT in Saudi Arabia

In addition to the valuation opportunities, streamlined processes and reporting can be introduced, saving costs and improving the accuracy and speed of the financial reporting processes giving
management better information for decision making purposes.Omar Al Sagga indicates that entities are seeing that the adoption of IFRS enables complex groups to standardise both policies and procedures

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IFRS Conversion in Saudi Arabia

With SOCPA’s deadline of 2017 looming, companies are starting to realise the implications of adopting the requirements of International Financial Reporting Standards (“IFRS”).  Many are actually finding the
effects to be broad ranging and significant in practice whilst others indicate that they think it will be less of an impact. the impact of IFRS on the structure of the balance sheet and reported results have a direct

Vision 2030

It is my pleasure to present Saudi Arabia’s Vision for the future. It is an ambitious yet achievable blueprint, which expresses our long-term goals and expectations and reflects our country’s strengths
and capabilities All success stories start with a vision, and successful visions are based on strong pillars.
The first pillar of our vision is our status as the heart of the Arab and Islamic worlds. We recognize that

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Consulting

ERP Consulting:

Improve efficiencies and contain costs

If you are trying to decide if your organization could benefit from an enterprise resource planning (ERP) system, if you are looking for more value from your current system, or if you are shopping for a replacement ERP system, the ERP specialists on Al Aziq technology consulting team can help you make an informed decision.

As independent, unbiased advisors, they can assess your situation and develop a plan that fits your unique situation. Whether you are a school, a government, a business, or a not-for-profit organization, you can rely on our ERP specialists to know the ERP marketplace and the solutions available. And they have experience helping organizations like yours select and implement ERP systems that unite their strategies, people, and processes.

ERP Assessments  When conducting an assessment, our ERP specialists inventory your unique needs objectives and determine where you are getting the most out of your current system and whether replacing your system is necessary and justifiable. Utilizing information from the ERP assessment, they will help you build a business case to determine and justify what improvement alternatives are available to satisfy your needs in both the short and longer term.

Continuous Improvement ERP providers are continually upgrading their systems and delivery You can collaborate with our ERP system specialists to make sure that your solution is providing the highest level of reliability and the cost savings you can expect.

ERP Implementation Whether you are implementing upgrades to optimize your current system or implementing a new system, our ERP implementation specialists can help you through each phase of the implementation process. They bring deep application software and infrastructure expertise to every implementation. They use a project management methodology that carefully defines the scope of the project and the roles of everyone involved along with a timeline and checkpoints to ensure the implementation will be completed on time and within budget.

Infrastructure Optimization – As ERP systems introduce more and more improvements, they and more from your IT infrastructure. Is your network robust enough to support the improvements? Our ERP solutions team can examine the full range of your IT architecture and give you the answers and make recommendations if upgrades are needed.

ERP Selection You will especially appreciate the independence of our ERP specialists when you are cutting through the noise of vendors vying for your business. Our technology consultants can help you develop an RFP that reflects the ERP system you need. They can also help you determine whom to ask for proposals and review the completed proposals to make sure they meet your requirements. Finally, their independence and experience enables them to thoroughly review and help negotiate the contracts to reduce your cost and risk. Throughout the ERP selection process, you can rely on our ERP specialist to maximize the return on your technology investment. There is no question that enterprise resource planning can help you work more effectively and efficiently. But finding the right system, supporting it with the right infrastructure, leveraging best practices, and adapting it to your organization’s unique needs is a complex process. Our ERP team can help you face these challenges with confidence and deliver a robust return on investment.

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Tax

As a leading tax network, we believe that we – as individual tax professionals and as member firms – have a duty to engage in the discussion and debate surrounding Tax Transparency and Responsibility. As the tax strategies of multinationals and domestic companies continue to be examined by both tax authorities and the public alike, we work with our clients to develop tax strategies that are fit for purpose in the tax system of tomorrow.

Our Expertise

  • Feasibility Studies
  • Front End Engineering Design
  • Basic and Detailed Engineering
  • Plant Modeling
  • Project Management

Contact

  • Mohammed Al Shareef
  • Sr. Business Development Manager
  • + 966 13 849 41 11 Ext: 3156

Working with clients to define the tax department of tomorrow. To keep pace with the reporting changes, multinational corporations will need to evaluate their in-house resources to determine if they will be able to manage additional requirements and responsibilities. They will also need to assess their systems to ensure that they can meet new requirements for multijurisdictional reporting.

KPMG International has a comprehensive, robust and publicly available Global Code of Conduct setting the standards of ethical conduct for everyone in our KPMG member firm network. Tax professionals ar

Direct Taxes

also bound by our Principles for a Responsible Tax Practice, which set out additional fundamental ethical principles and behaviours.

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Auditing

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Financial statement audits give assurance over information used by investors and the capital markets – a responsibility to the public interest KPMG Audit professionals take very seriously, applying powerful D&A routines to create better audit evidence and gain deeper insights, and exploring the role auditors can and should play by engaging stakeholders to better understand their views through KPMG’s ‘Value of Audit’ forum. KPMG professionals – innovating to better serve the capital markets and society as a whole.