The Saudi Water Authority has been awarded the Diamond Award in the "Accrual Accounting Pioneers" Program, organized by the Accrual Accounting Center, in the category of Sustainability and Excellence. Competing with 250 government entities, the Authority’s achievement reaffirms its leadership in implementing the highest standards of sustainability and financial transparency.

The Authority excelled by achieving 100% compliance in submitting its 2023 financial statements, which were externally audited in accordance with international accounting standards. This milestone included launching initiatives to modernize financial policies in line with national regulations, implementing advanced technologies to improve financial resource management, budget planning, and enhancing governance and financial sustainability.

Through integrated strategic efforts, the Authority has improved the efficiency of financial data management and applied standards of transparency and accountability, contributing to outstanding financial performance. These accomplishments have also supported the transition from a cash basis to an accrual accounting system, aligning with the goals of Saudi Vision 2030 to enhance data quality and improve the Kingdom’s credit rating.

This award crowns the Saudi Water Authority’s commitment to adopting global best practices in accounting, reinforcing transparency and financial governance, and supporting national development and sustainability goals.