News - SOCPA

16 Aug 2023

SOCPA Participates in the Regular Meeting of the Accounting Standards of Belt and Road Cooperation Countries Forum ...

Saudi Organization for Chartered and Professional Accountants (SOCPA) participated in the fifth regular meeting of the Accounting Standards of Belt and Road Cooperation Countries Forum in China that was held in Xiamen City on July 25, 2023. The meeting was intended to exchange views on the participants experiences related to the application of the International Standards and comments on new topics in the profession. During the meeting, the current experience of Cambodia in converting to the Inte...

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15 Aug 2023

SOCPA Launches the Electronic Filing Service of Annual Data for Licensed Accounting Service Providers

Alongside the digital transformation taking place in the Kingdom, Saudi Organization for Chartered and Professional Accountants (SOCPA) launched the "Electronic Filing of Annual Data". This service allows licensed accounting service providers to provide SOCPA with the required annual data and information in an electronic form easily at any time and from anywhere. This service comes within the framework of SOCPA's efforts to digitally transform its services to achieve the highest...

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14 Aug 2023

New Amendments to SOCPA Professional Exams Regulations and Updates on the Fellowship Exam Topics

Saudi Organization for Chartered and Professional Accountants (SOCPA) made amendments to the general regulations of professional exams to comply with the requirements of the computer-based exam service provider (National Center for Assessment). The amendments included a fixed duration for postponing all professional exams to be no later than 30 days before the start of the exam cycle. SOCPA also made some updates on its fellowship exam topics to be up-to-the-minute with the latest professional d...

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16 Jul 2023

SOCPA Comments on IASB Exposure Draft: Amendments to the Classification and Measurement of Financial Instruments- P...

The International Accounting Standards Board (IASB) has published the Exposure Draft of Amendments to IFRS 9 "Financial Instruments" and Proposed Amendments to IFRS 7 "Financial Instruments: Exposures" Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by Accounting Standards Council, commented on the Exposure Draft. SOCPA agrees with the proposed amendments that permit an entity to derecognize a financial liability that is settled using an el...

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21 Jun 2023

SOCPA Announces the Names of Recently Certified VAT Specialists

Saudi Organization for Chartered and Professional Accountants (SOCPA) is pleased to congratulate those who have obtained the VAT Specialist Certificate for the second Cycle of 2023, wishing them great success in their careers.

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20 Jun 2023

SOCPA Participates in the Meeting of the Islamic Finance Consultative Group of the International Accounting Standar...

Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by the Accounting Standards Council, participated in the periodic meeting of the Islamic Finance Consultative Group of the International Accounting Standards Board (IASB), which was held via video conference on May 31, 2023. Mr. Ahmed Al-Shniber, a Board Member of the Accounting Standards Council, represented SOCPA in the meeting and presented a paper on accounting for the profit equalization reserve that some fin...

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