Analysis of intangible assets reporting standards and automation in KSA within an Islamic context – a case study

What is it about?

This study explores the importance of intangible assets in enhancing financial credibility and transparency in Saudi Arabia and other Islamic countries, aligning with Saudi Vision 2030. It highlights the crucial role of Information Communication Technology (ICT), including AI and blockchain, in addressing manual challenges and ensuring the authenticity of financial data. By reviewing national and international standards, the study underscores the need to integrate conventional accounting principles with Islamic Shari'ah Compliance (ISC) to establish a unified international standard. It emphasizes that automation technologies improve accuracy and verifiability in reporting intangible assets within ISC principles. The study guides using ICT tools to ensure accurate financial reporting, benefiting stakeholders, policymakers, accountants, auditors, and ISC professionals. Promoting International Financial Reporting Standards (IFRS) and Saudi Organization for Certified Public Accountants (SOCPA) standards supports the Saudi Vision 2030 goal of enhancing global investment and trade.

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