The Small and Medium Enterprises General Authority “Monsha’at” has transitioned to the self-control approach, becoming the first government authority to implement this model under the Kingdom’s Financial Control System after fulfilling all readiness requirements for the transition. The move reflects the maturity of its internal control environment and the efficiency of its financial and procedural systems.

The transition comes as part of the Ministry of Finance’s efforts to modernize the government financial control system by adopting more efficient and flexible monitoring methods that take into account the nature of government entities and their risk levels, while enhancing financial performance, governance, and accountability in the management of public funds.

Deputy Minister of Finance for Public Revenues, Saud Albraik, stated that Monsha’at’s adoption of the self-control approach represents an advanced step in the development of government financial monitoring and demonstrates the maturity of the authority’s internal control environment after meeting all required readiness criteria. He explained that the model empowers qualified entities to manage their financial responsibilities in accordance with approved regulations, rules, and procedures through more efficient and flexible control mechanisms that enhance financial performance, governance, and accountability.

The self-control approach is one of the methods introduced under the Financial Control System, alongside direct control, digital control, and report-based control. It enables government entities to oversee their financial operations in accordance with approved regulations and procedures after verifying the effectiveness of their internal control systems and overall readiness.

Monsha’at’s transition to this approach reflects an advanced stage of institutional maturity, supported by a robust internal control environment that enhances the efficiency of financial procedures, strengthens organizational discipline, and increases the reliability of performance. The move supports the authority’s mission to empower SMEs and contributes to achieving the objectives of Saudi Vision 2030.