News - SOCPA

28 Jan 2024

SOCPA Board Issues Decision to Amend Accounting Services Regulations

The Board of Directors of the Saudi Organization for Chartered and Professional Accountants (SOCPA), in its fifth meeting of the tenth session held on December 24, 2023, issued Decision No. (1/2) introducing three amendments to the regulations governing accounting services. The amendments include: 1- Adding a new paragraph (3) to Article 16, stating: "3- The committee, based on a referral from the relevant department within SOCPA, will consider any violations of these regulations." ...

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23 Jan 2024

"Hadaf" Supports Holders of Financial Fraud Examiner and Public Sector Accounting Standards Professional Certificat...

The Saudi Human Resources Development Fund (Hadaf) has approved the Financial Fraud Examiner Certification and the Professional Certification in Public Sector Accounting Standards as part of its professional certifications program. The fund will financially compensate individuals who obtain these certifications to enhance the efficiency and competitiveness of the national workforce in the labor market. The payment mechanism from the fund is based on the principle of reimbursement to...

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21 Jan 2024

New Amendments to SOCPA Membership Regulations

In line with the continuous update and development of regulations and frameworks related to the accounting and auditing profession in the Kingdom, the Board of Directors of the Saudi Organization for Chartered and Professional Accountants (SOCPA) approved amendments to the membership regulations in its fifth meeting of the tenth session on December 24, 2023. These amendments will come into effect on January 21, 2024. Adopting these amendments is part of SOCPA's ongoing efforts to enhance all...

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16 Jan 2024

Exemption for SOCPA Fellows from Some EAAA Exams

Given the international recognition that the Saudi Organization for Chartered and Professional Accountants (SOCPA) has received, the Emirates Association for Accountants & Auditors (EAAA) has announced an exemption for SOCPA fellows from several qualifying exams for EAAA fellowship. This exemption is based on EAAA's acceptance of the SOCPA fellowship as one of the recognized professional certifications. The exempted exams include two out of three tests: the Accounting Standards test and...

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08 Jan 2024

Adoption of Technology-Related Revisions to the International Code of Ethics for Professional Accountants

The Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by the Committee for Professional Ethics, has adopted the technology-related revisions made by the International Ethics Standards Board for Accountants (IESBA) to various parts of the International Code of Ethics for Professional Accountants. These amendments are part of IESBA's efforts to enhance the relevance of the Code to practical requirements and developments in the professional accountants' wor...

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07 Jan 2024

SOCPA Adopts Amendments on Public Interest Entities Definition

SOCPA has adopted the amendments made by the International Ethics Standards Board for Accountants (IESBA) concerning the definition of Public Interest Entities (PIEs) in the International Code of Ethics for Professional Accountants. These changes are part of a broader project by the International Federation of Accountants (IFAC) to provide more clarity to concepts such as "Public Interest Entities", "Entities of Significant Public Interest", and "Listed Entities" o...

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