Ministry of Financeheadquarters
The Ministry of Finance stated that the Cabinet’s approval of the financial oversight law, which will replace the financial representatives law, represents a qualitative leap in the oversight of public funds. 
The law covers all entities financed by the state’s general budget or those receiving support, subsidies, or grants from it.
Its scope also extends to entities that carry out work or procurements on behalf of government bodies, as well as those responsible for collecting the state’s public revenues under a regulatory instrument or through contracting with a government entity.
According to the Saudi Press Agency (SPA), the ministry explained that the law is based on advanced oversight methods applied through a flexible oversight mix that takes into account the nature and independence of each entity, as well as the level of risk in its financial operations. This contributes to strengthening oversight efficiency and improving the financial performance quality.
The Ministry of Finance added that the law aims to enhance the efficiency of public money management, promote principles of transparency and accountability, and enable government entities to carry out their financial duties with clarity and flexibility through an updated regulatory tool that allows the application of advanced oversight mechanisms and reinforces a culture of compliance and financial responsibility in the public sector.
This step aligns with the ministry’s objectives for developing financial oversight over public funds and is consistent with the Saudi Vision 2030 objectives.
According to Argaam data, the Saudi Cabinet—chaired the day before yesterday, Nov. 26, by Crown Prince Mohammed bin Salman, Prime Minister—approved the financial oversight law.
Ministry of Financeheadquarters
The Ministry of Finance stated that the Cabinet’s approval of the financial oversight law, which will replace the financial representatives law, represents a qualitative leap in the oversight of public funds.
The law covers all entities financed by the state’s general budget or those receiving support, subsidies, or grants from it.
Its scope also extends to entities that carry out work or procurements on behalf of government bodies, as well as those responsible for collecting the state’s public revenues under a regulatory instrument or through contracting with a government entity.
According to the Saudi Press Agency (SPA), the ministry explained that the law is based on advanced oversight methods applied through a flexible oversight mix that takes into account the nature and independence of each entity, as well as the level of risk in its financial operations. This contributes to strengthening oversight efficiency and improving the financial performance quality.
The Ministry of Finance added that the law aims to enhance the efficiency of public money management, promote principles of transparency and accountability, and enable government entities to carry out their financial duties with clarity and flexibility through an updated regulatory tool that allows the application of advanced oversight mechanisms and reinforces a culture of compliance and financial responsibility in the public sector.
This step aligns with the ministry’s objectives for developing financial oversight over public funds and is consistent with the Saudi Vision 2030 objectives.
According to Argaam data, the Saudi Cabinet—chaired the day before yesterday, Nov. 26, by Crown Prince Mohammed bin Salman, Prime Minister—approved the financial oversight law.
