Saudi Finance Ministry Engages in IPSASB Q1 Meeting in Washington

KSA, 24 March, 2025 : The Saudi Ministry of Finance concluded its participation in the first-quarter meeting of the International Public Sector Accounting Standards Board (IPSASB) held in Washington, D.C., from March 18-21, 2025. The meeting addressed key public sector accounting issues and approved advisory papers on various standards.

Saudi Arabia played a role in the update of IPSAS 33, "First-Time Adoption of Accrual Basis IPSAS," contributing to amendments that improve clarity and consistency. The Saudi team worked closely with the Council to refine definitions and maintain standard numbering to avoid confusion.

The Ministry also took part in the Public Sector Accounting and Financial Reporting Conference 2025, contributing to a session on IPSAS implementation progress, highlighting global success stories and challenges.

This participation aligns with Saudi Vision 2030, reinforcing the Kingdom’s international presence in public sector accounting and financial transparency. Saudi Arabia continues to support IPSASB’s efforts to shape global public sector accounting standards and enhance financial performance.