News - SOCPA

20 Dec 2021

SOCPA and Saudi Center for Commercial Arbitration Sign a Joint Cooperation Memorandum

SOCPA and the Saudi Center for Commercial Arbitration (SCCA) signed a memorandum of cooperation aimed at providing alternative means of resolving disputes of project contractors of SOCPA members. The memorandum also serves to raise awareness of arbitration and mediation services and enhance its role in the development of the accounting and auditing sector in the kingdom. The signing ceremony took place at SOCPA headquarters in Riyadh, and SOCPA was represented at the ceremony by its C...

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20 Dec 2021

SOCPA Shares its Comments on IFRS Interpretations Committee's Tentative Decision Regarding (IAS7)

The IFRS Interpretations Committee has requested comments on its tentative decision about whether an entity should include a demand deposit as a component of cash and cash equivalents in its statements of cash flows and financial position when the demand deposit is subject to contractual restrictions on use agreed with a third party. SOCPA agreed with the decision of the Committee that such amounts are considered to be cash in accordance with IAS No. 7, since such restrictions...

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16 Dec 2021

SOCPA CEO Visits the General Court of Audit

A delegation from SOCPA, headed by H. E. Dr. Ahmed bin Abdullah Al-Meghames, CEO of SOCPA, visited the headquarters of the General Court of Audit (GCA) in Riyadh and was received by H.E. Dr. Hussam Alangari, President of General Court of Audit. The visit began with a tour of the headquarters of the General Court of Audit, followed by the discussion of a number of topics of mutual interest, including discussion on the ways to strengthen cooperation between SOCPA and GCA in various profe...

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14 Dec 2021

SOCPA Participates in the Islamic Finance Consultative Group Meeting

SOCPA, represented by the Accounting Standards Committee, participated in the meeting of the Islamic Finance Consultative Group under the International Financial Reporting Standards Foundation, which was held remotely via Video conference call on Tuesday (30-11-2021). SOCPA was represented by member of the Accounting Standards Committee, Mr. Ahmed Al-shanibar. The meeting agenda included discussion of the Post-implementation Review of IFRS 9―Classification and Measurement and considered...

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13 Dec 2021

Chairman of Jordan Association of Certified Public Accountants visits SOCPA

The chairman of the board of Directors of the Jordan Association of Certified Public Accountants (JACPA), Mr. Hossam Rahal, visited SOCPA's headquarters in Riyadh and was received by SOCPA's CEO, Dr. Ahmed bin Abdullah Al-Meghames, and the Executive Director of Quality of Professional Performance, Mr. Mohammed bin Sulaiman Al-Ghaib. During the visit, they discussed the cooperation between the SOCPA and JACPA in the field of accounting and auditing, and ways to promote closer t...

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12 Dec 2021

SOCPA participates in the Thirteenth Annual Meeting of The Asian-Oceanian Standard-Setters Group

SOCPA, represented by the Accounting Standards Committee, participated in the Thirteenth Annual Meeting of the The Asian-Oceanian Standard-Setters Group (AOSSG), which was held remotely on the 24th of November 2021. Dr. Awad Al-Rahili, vice chairman of the Accounting Standards Committee, and Mr. Ihsan Makhdoom, member of the Accounting Standards Committee, were SOCPA's representatives at the meeting. SOCPA's representatives laid out SOCPA's view on many subjects discussed in ...

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