Saudi Arabia ranked ninth globally in the Auditing and Accounting Practices indicator in the IMD World Competitiveness Yearbook 2026, reflecting the impact of the professional and institutional transformation the Saudi accounting sector has witnessed over the past decade in line with Saudi Vision 2030.
This progress is the result of a comprehensive reform journey covering more than 300 reforms, including 128 substantive reforms, 86 consequential reforms, 71 procedural reforms, and 16 legislative reforms, contributing to developing the professional environment and enhancing the quality of accounting and auditing practices.
The Kingdom adopted 128 international standards, making it the only country in the Middle East and one of few globally to adopt the full set of international professional standards, aligning professional practices with global best practices and raising confidence in financial information.
These reforms were reflected in key operational indicators: professional licenses issued rose by 126%, the number of professional certificate holders increased by 235%, the number of trainees grew by 309%, and inspection and oversight activities increased by 132%.
These efforts contributed to Saudi Arabia advancing 33 places over 10 years in the Auditing and Accounting Practices indicator, moving from 42nd to ninth place, reflecting the scale of sector development and its impact on enhancing the national economy’s competitiveness.
Source: Riyadh Daily