News - SOCPA

19 Oct 2021

SOCPA organizes a seminar titled "Accounting Standards in the Public Sector in Saudi Arabia"

SOCPA, in cooperation with Prince Sultan University, organized a seminar within the initiative to align education outcomes with labor market requirements under the title: "Accounting Standards in the Public Sector in Saudi Arabia". The seminar saw the participation of over 93 faculty members from various accounting departments from Saudi universities. The seminar was presented by Mr. Abdullah Al-Humaida, Director of the Department of Accounting Standards and Policies at the Accr...

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10 Oct 2021

SOCPA's Audit Standards Committee Holds A Workshop On Accounting Services For Judicial Sector

SOCPA represented by the Audit Standards Committee organized a workshop to discuss the accounting services provided to the judiciary, in which a number of eminent judges and chartered accountants participated. The workshop was held remotely on Monday 27-02-1443 H (04-10-2021). The workshop was opened with a speech by Mr. Abdullah bin Ahmed Al-Amash, chairman of the Audit Standards Committee, where he welcomed the participants and stressed the importance of this topic, which comes wi...

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06 Oct 2021

SOCPA Participates in The World Standard-setters Conference

SOCPA participated in The World Standard-setters Conference which was held virtually on 27–28 September 2021, and was represented by Dr. Ahmed Almeghames, CEO of SOCPA, and Mr. Mr. Fahad Al-Taimi, Chairman of the Accounting Standards Committee at SOCPA. The conference represented a unique opportunity to listen and exchange opinions and views directly from IASB members on the latest standards and their relevant interpretations. It is also considered an open forum where standard-sett...

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04 Oct 2021

SOCPA Shares its Comments with the IASB on Proposed Amendment to IFRS 17

The International Accounting Standards Board (IASB) published an Exposure Draft titled (Initial Application of IFRS 17 and IFRS 9— Comparative Information, Proposed amendment to IFRS 17) concerning entities that will transition to the two standards, IFRS 17 and IFRS 9, together starting in 2023. The proposed amendment relates to financial assets and allows the resubmission of the comparative figures of financial assets that were prohibited by IFRS 9 SOCPA, represented by the Accoun...

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30 Sep 2021

As part of the initiative to align education outcomes with labor market requirements, SOCPA organizes a focus group...

SOCPA organized an online focus group through ZOOM as part of the initiative to align the education outcomes with the requirements of the labor market. A number of government agencies participated in the focus group with the aim of exploring their opinions on how to develop educational courses in the accounting program and how to meet the needs of the labor market, as well as other areas of development needed for accounting graduates. The participating government agencies and bodies are: the Mi...

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28 Sep 2021

SOCPA Shares its views on IASB's Five-Year Plane

The International Accounting Standards Board (IASB) published an Agenda Consultation and a Request for Information regarding its work plan for the next five years. The Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by its Standards Committee, responded to the information request and shared its views on the plan. SOCPA believes that it is important for IASB when looking at investor's needs of information since it is an important criterion for the board, it ...

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