Original Coverage & Source Attribution: fastcompanyme.com
Saudi Arabia has ranked first among G20 countries for the quality of its auditing and accounting practices, according to an index published by the International Institute for Management Development (IMD).
The kingdom ranked ninth globally in the Auditing and Accounting Practices Index in IMD’s World Competitiveness Yearbook 2026, which evaluates how auditing and accounting practices are implemented in business.
Denmark led the ranking, followed by Ireland, Taiwan, Austria, Iceland, Switzerland, Singapore and Hong Kong.
The high quality of its practices comes after a decade of reforms aimed at raising the quality of auditing and accounting in the kingdom under Vision 2030.
More than 300 legal, procedural and professional reforms have been introduced during this period, according to the Saudi Organization for Chartered and Professional Accountants (SOCPA). The reforms have aimed to strengthen the sector by safeguarding financial transactions, improving efficiency and raising disclosure quality as investment and economic activity expand.
In a statement, Dr. Ahmad Al-Meghames, CEO of SOCPA, said that high-quality auditing and accounting practices have enhanced confidence in financial statements. He emphasized that developing the profession has supported the national economy and enhanced the attractiveness of the business environment.
He said the organization’s 2026–2030 strategy will build on these achievements by improving practice quality and compliance, developing services, attracting talent, and expanding international recognition of its professional membership.
According to Al-Meghames, these efforts will continue to reinforce confidence in the Kingdom’s accounting sector and strengthen its contribution to the national economy.
