News - SOCPA

03 Apr 2022

SOCPA Shares its Comments on IASB's Exposure Draft on Supplier Finance Arrangements

The International Accounting Standards Board (IASB) has published an exposure draft to introduce an amendment to IAS 7 and IFRS 7, to improve requirements regarding the disclosure of supplier finance arrangements, since entities engage in significant transactions with banks to provide the financing necessary to pay supplier invoices, whether when due or at a later date. Despite the importance of these transactions and their impact on the entity's liabilities, cash flows, and liquidity risks,...

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30 Mar 2022

SOCPA Publishes the Introductory Guide to the International Code of Ethics

SOCPA Publishes the Introductory Guide to the International Code of Ethics, which included a brief overview of the most prominent aspects stated in the basic document of the code. SOCPA explained that this guide does not replace the basic document, but rather gives an overview of the most prominent aspects of the code, which will be mandatory by the middle of the current year 2022. The code deals with professional accountants working in the private and public sectors as well as auditors. It al...

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28 Mar 2022

SOCPA Launches the “Etkal” Platform for Accounting Services

His Excellency the CEO of SOCPA, Dr. Ahmed bin Abdullah Al-Maghamis, and His Excellency Mr. Ayman bin Abdullah Al-Falaj, CEO of Thiqa, inaugurated the Etkal Accounting Services platform. The inauguration took place on the sidelines of the Global Entrepreneurship Congress in Riyadh. The new platform aims to provide e-services to applicants and providers of accounting services, namely accounting and auditing firms and entities, independent accountants, and accounting systems providers. The Etkal ...

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23 Mar 2022

SOCPA Publishes the Names of New Accounting Technician Certificate Recipients

The Saudi Organization for Chartered and Professional Accountants is pleased to congratulate those who have obtained the Accounting Technician Certificate (First Cycle 2022), wishing them further success in their careers.

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22 Mar 2022

SOCPA Publishes Names of New Recipients of the Value-Added Tax Specialist Certificate

The Saudi Organization for Chartered and Professional Accountants (SOCPA) is pleased to congratulate those who have obtained the VAT Specialist Certificate Certificate (First Cycle 2022), wishing them further success in their careers.

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21 Mar 2022

SOCPA Shares Its Comments on IASB's Exposure Draft Regarding Amendments to IAS 1

The International Accounting Standards Board (IASB) has published an exposure draft for new amendments to IAS 1 to improve the classification requirements for non-current liabilities with no disclosure conditions. The Saudi Organization for Chartered and Professional Accountants (SOCPA), has shared its comments on the exposure draft and it agrees with the Board that the conditions that affect the liability classification of an entity are the ones in which an entity must comply with on or ...

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