Saudi Arabia-based AlKharashi & Co has joined Praxity – the world’s largest alliance of independent accountancy firms. It is ranked as the fifth top accountancy business in the Kingdom and has offices in Riyadh, Jeddah ad Dammam.
Founded in 1981, AlKharashi & Co has four partners and employs around 60 staff. It specialises in auditing, tax, Zakat, accounting and the provision of advisory services such as management consulting.
Partner, Suleiman AlKharashi, heads up the International Standards of Auditing Committee at the Saudi Organisation for Certified Public Accountants (SOCPA). The Committee’s responsible for the transition of using local Generally Accepted Accounting Principles and Standards (GAAP and GAAS) to the International Financial Reporting Standards (IFRS) and International Standards of Auditing (ISA) in 2017.
Clients are drawn from a wide range of sectors including; hotels and resorts, energy and electricity, industry, retail, construction, education and insurance. The firm also works closely with the Department of Zakat and Income Tax, the Ministry of Commerce and Industry and the Saudi Arabian Monetary Agency.
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Suleiman commented on AlKharashi’s membership of the alliance: “Praxity is highly-respected within the accounting community so it was only natural to align ourselves with an organisation that can enhance our reputation globally. The Kingdom of Saudi Arabia is increasingly becoming an attractive environment for global investors and as we now have access to worldwide expertise, we are better placed to meet their needs. We’re also well-placed to offer reciprocal services to member firms with clients interested in investing here.”
Praxity Chairman, Rick Anderson, concludes: “Firms are selected for their size, strength, leadership and strategic geographic relevance. AlKharashi & Co is a great addition to the alliance – our representation in over 97 countries confirms how we continue to fulfil our ethos of global collaboration, providing members with an unrivalled resource and knowledge pool.”
To find out more about Praxity visit www.praxity.com