Saudi Cultural Missions Theses & Dissertations
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Item Restricted Legislative approaches to preventing corporate fraud: the perspective of the United Kingdom and the Kingdom of Saudi Arabia.(University of Leeds, 2024) Alharbi, Anas; Cairns, StevenThe UK has recently developed a legal framework to prevent various forms of corporate fraud, yet it was criticised from several aspects. While the KSA laws contain anti-fraud provisions, they lack the same depth and specificity, particularly regarding the forms of corporate fraud. This gap is important as the KSA seeks to adjust its legal framework to align with the evolving economic landscape. Therefore, the main aim of this study is to compare the legislative approaches of the UK and the KSA in reducing corporate fraud, with a focus on leveraging the UK's experience to expedite the development of modern Saudi laws. Through a comparative analysis of relevant legislation in both countries, this study evaluates their respective strengths, weaknesses, and practicability. The findings indicate that the UK's legislative approach has benefitted from the evolution of its laws over time, leading to legislation that imposes convictions on some organisations for their FTP fraud. In contrast, the Saudi regime punishes certain acts that may be considered fraud in specific categories of companies, but it does not explicitly address all forms of corporate fraud. The study recommends taking advantage of the British experience to develop Saudi legislation in a manner that is appropriate to the evolving local context.17 0