The Ministry of merce and Industry (MCI)in Saudi Arabia has launched “Qawaem”,a new XBRL-based electronic reporting platform for the submission of nsolidated financial statements by mmercial entities in the Kingdom.As of 1January of this year,paper statements are no longer aepted and firms and Chartered Acuntants alike are instructed to use the online Qawaem web portal throughout the entire preparation and audit process.

This is another example of an XBRL project launching with significant operation between the public and private sectors with the Saudi anization for Certified Public Acuntants and the Department of Zakat and Inme both involved,and is intended to benefit both sides of the reporting chain through increased transparency and more efficient reporting.Qawaem is also envisioned to provide enomic and business planners with additional decision making tools,more aurate financial information and improved rporate ernance.

Read the MCI press release or visit the Qawaem portal directly (in Arabic).

中文新闻：沙特发布新的XBRL电子报告平台