News - SOCPA

06 Apr 2021

Conclusion of the First Version of the Qualifying Program to Audit the Percentage of Local Content

The Local Content and Governmental Procurement Authority and the Saudi Organization for Chartered and Professional Accountants concluded the first version of the qualifying program for auditing and reviewing the percentage of local content in private sector entities. The program aims to transfer the necessary knowledge and skills and empower national professionals in the field of auditing the ratios of local content, with it being a new field in Saudi Arabia. The qualifying program for auditing...

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03 Apr 2021

SOCPA Announces Names of New Accounting Technician Certificate Holders

The Saudi Organization for Chartered and Professional Accountants is pleased to congratulate those who have obtained the Accounting Technician Certificate (First Cycle 2021), wishing them more success in their careers.

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30 Mar 2021

SOCPA Comments on IASB's Draft Amendment to IFRS 16

The Saudi Organization for Chartered and Professional Accountants shared its opinion on the draft amendment by the International Accounting Standards Board on IFRS 16, which includes setting requirements for measuring lease liabilities in sales with re-leasehold transactions. The amendment is based on considering the variable rent - which does not depend on a rate or indicator - as part of the lease liabilities, and the lessee is required to estimate and include it in the lease liabilities....

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25 Mar 2021

SOCPA Publishes Names of New VAT Specialist Certificate Holders

The Saudi Organization for Chartered and Professional Accountants is pleased to congratulate those who have obtained the VAT Specialist Certificate Certificate (First Cycle 2021), wishing them more success in their careers.

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22 Mar 2021

SOCPA, Represented by the Audit Standards Committee, Adopts the International Standard for Related Services 4400 (a...

The Saudi Organization for Chartered and Professional Accountants, represented by the Auditing Standards Committee, has adopted the amendment of the International Auditing and Assurance Standards Board (IAASB) on the International Standard for Related Services 4400 (amended) "Commitments of Agreed-upon Procedures", taking into account the study carried out by the Committee of the updates issued by the IAASB on that standard, and after completing the procedures for adopting the stan...

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22 Mar 2021

Memorandum of Understanding between SOCPA and the Saudi Contractors Authority

The Saudi Organization for Chartered and Professional Accountants and the Saudi Contractors Authority signed a cooperation agreement last Sunday to lay down a framework for cooperation between the two bodies for the sake of exchanging experiences, knowledge, and information, and cooperation in the fields of training and development. The agreement was signed by the Saudi Organization for Chartered and Professional Accountants, Secretary-General Dr. Ahmed bin Abdullah Al Maghamis, w...

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