Saudi Gazette report

RIYADH — Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi issued a ministerial decision to Saudize 30 percent of accounting professions in the private sector.

The decision, which will create more than 9,800 jobs for Saudis, will be applicable to private sector firms where five or more of staffers with accounting professions are working.

According to the decision, Saudi accountants are required to obtain professional accreditation from the Saudi Organization for Certified Public Accountants.

It is also a condition for the calculation of the Saudi accountant in the Nitaqat Saudization program that his wages should not be less than SR6,000 for holders of bachelor degrees and SR4,500 for diploma holders.

The accounting professions that are targeted for Saudization include accounts manager, manager of zakat and taxes department, manager of financial reports department, manager of general auditing department, internal auditor, cost accountant and others.

The human resources and social development system provides packages of incentives to support private sector enterprises in employing, training, qualifying and empowering Saudi accountants in the local employment market.

The decision aims to provide decent job opportunities for qualified young Saudi men and women in the labor market and to promote productive and sustainable localization.

It is noteworthy that the ministry seeks to increase the representation of Saudis in the labor market, and raise the productivity of national human cadres through continuous training to enhance their skills and capabilities so as to qualify them to take up challenging positions in the employment market.