Health Ministry launches transition project from cash to accrual accounting

Saudi Arabia’s Ministry of Health building

Saudi Arabia’s Ministry of Health launched yesterday, July 20, the transformation project from applying cash-basis accounting to accrual accounting at its headquarters in the Kingdom’s Digital City.

The actual launch of the project comes after the success of the pilot phase, which was took place after the issuance of a royal decree approving the conversion of all government agencies to accrual accounting, Saudi Press Agency (SPA) reported.

The ministry is one of the first government agencies to adopt this project, which comes in accordance with international accounting standards in the public sector in a bid to strengthen the country's financial position.

The project is positioned to achieve one of the pillars of the Kingdom's Vision 2030 in relation to improving the quality of financial accounts and enhancing transparency to improve the government accounting system and accounting audit standards.