The IASB Conceptual Framework for Financial Reporting $2018($As endorsed by the Saudi

Organization for Chartered and Professional Accountants $-$SOCPA$),$ states the following as

the primary objective of general purpose financial reporting:

$$The objective of general purpose financial reporting $($GPFR$)$ is to provide financial

information about the reporting entity that is useful to existing and potential investors, lenders

and other creditors in making decisions relating to providing resources to the entity$(1\mathrm{.}2).$Critically evaluate whether GPFR can fulfil the information demand as specified in

paragraph $1\mathrm{.}2$ of the Conceptual Framework