News - SOCPA

28 Apr 2024

SOCPA Shares Perspective on IAASB Project

The International Auditing and Assurance Standards Board (IAASB) has published a project proposing limited amendments to update the definitions of listed entities and public interest entities. These proposed amendments are part of joint efforts with the International Ethics Standards Board for Accountants (IESBA) to meet the high expectations of stakeholders in public interest entities. Based on IESBA's project to develop definitions of listed entities and public interest entities ...

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22 Apr 2024

SOCPA Issues Update to Guidebook for Preparing Independent Auditor Reports

The Saudi Organization for Chartered and Professional Accountants (SOCPA) has issued an update to the guidebook that contains illustrative examples of various types of independent auditor reports prepared in accordance with the International Standards on Auditing and Review adopted in the Kingdom of Saudi Arabia. The key changes made to the guidebook include: • Amendments to align with the new Companies Law. • Changing the phrase "Summary of Significant Accounting Policie...

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16 Apr 2024

SOCPA Shares Perspective on Financial Instruments with Equity Characteristics

The International Accounting Standards Board (IASB) has released an exposure draft to amend IAS 32 regarding financial instruments with equity characteristics. After consulting with relevant stakeholders, the Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by the Accounting Standards Committee, has shared its perspective on the discussed issues in the project. SOCPA expressed its agreement with the project’s direction, focusing on the contractua...

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28 Mar 2024

SOCPA Publishes the Names of New VAT Specialist Certificate Recipients

SOCPA is pleased to extend its congratulations to the recipients of the VAT Specialist Certificate (Third Cycle of 2023). We wish them continued success and prosperity in their professional careers.

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27 Mar 2024

SOCPA Publishes Names of Accounting Technician Certificate Recipients

The Saudi Organization for Chartered and Professional Accountants (SOCPA) is pleased to congratulate the recipients of the Accounting Technician Certificate for the first cycle of 2024, wishing them continued success and prosperity in their professional careers.

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18 Feb 2024

SOCPA Releases Updated International Standards for Quality Management and Auditing

The Saudi Organization for Chartered and Professional Accountants (SOCPA) has released the Arabic electronic version for the year 2024, which corresponds to the latest version of the International Standards on Quality Management, Auditing, Review, and Other Assurance and Related Services (2022 edition). This version includes several amendments and updates, which can be summarized as follows: 1. Quality Management Standard (1): "Quality Management for Firms that Perf...

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