Digital Reporting of Accounting Information and AIS in Oman

Abstract

Oman holds a prominent location in the Middle East and North Africa (MENA) region. There were several structural reforms took place to enhance the adoption and implementation of smooth governance in Oman from the inception of the corporate governance structure. This study aims to review and document the digital reporting of accounting information of these Omani companies listed at the Muscat Stock Exchange (MSX) and registered with the Capital Market Authority (CMA). The purpose of the study is to highlight the adaptation of digital accounting reporting of listed companies at MSX and registered companies at CMA, its benefits, and the current challenges. From 2020, all the listed, licensed, and accredited companies by MSX and CMA were required to report their financial information digitally by using XBRL taxonomy. The research provides useful insight to regulators, decision-makers, businesses, and the academic world by filling the gap in the literature.