News - SOCPA

18 Aug 2021

SOCPA Expresses Its Views on Tentative Agenda Decision of IFRS Interpretations Committee Regarding the Accounting T...

SOCPA Expresses Its Views on Tentative Agenda Decision of IFRS Interpretations Committee Regarding the Accounting Treatment of Economic Benefits from The Use of Wind Power Plants Represented by the Accounting Standards Committee, SOCPA expressed its comments on the tentative decision of the IFRS interpretation committee regarding contracts relating to price swapping of wind-generated power, and whether such contracts contain a lease according to IFRS 16. SOCPA concurred with the ...

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08 Aug 2021

SOCPA Reviews Its Achievements In A Report Titled "The Role Of The Accounting Profession In Building A Prosperous E...

SOCPA reviewed its achievements over the past five years in a new report titled "The Role Of The Accounting Profession In Building A Prosperous Economy". The report documents the achievements and successes of the organization. The report begins with and introduction by the minister of commerce and investment Dr. Majid bin Abdullah Al Qasabi, where he talked about the accounting profession as being a booster of development for the kingdom's economy, stating that SOCPA has led t...

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05 Aug 2021

SOCPA organizes A Health Day For Its Employees

SOCPA represented by its HR department has organized a health awareness event, as part of an initiative to spread awareness of the importance of leading a healthy life for its employees. The event included various activities such as free medical examinations and tests for all employees. The examinations included blood pressure measurement, sugar level measurement, dental, eye examinations, weight measurement and body mass rate tests. These tests were carried out by a medical staff who provide...

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03 Aug 2021

SOCPA Participates In The EEG Meeting With The IASB To Review Two Projects By The Board

The Saudi Organization for Chartered and Professional Accountants (SOCPA) took part in the Emerging Economies Group (EEG) meeting which was organized online by the International Accounting Standards Board (IASB) on the 12th of July 2021. In the meeting, the IASB presented two of its projects namely "Disclosure Initiative - Reviewing Disclosures Based On Targeted Standards" and "Management Commentary". The IASB aims by holding this meeting to present the two projects to a...

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11 Jul 2021

SOCPA Publishes A Guidebook Introducing Accounting To High School Students

SOCPA has published a guidebook Introducing and promoting accounting to high school students and graduates. The guidebook gives an overview of the various accounting majors and their importance to the economy. It also explains the multiple branches of accounting, and the ways that these branches serve society. The guidebook also included answers to the most frequently asked questions by students about taking up accounting as their major in university. It also provided a brief introduction of ...

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08 Jul 2021

SOCPA Organizes a Workshop on Software Capitalization and Development in Cooperation with CITC and FSC

The Saudi Organization for Chartered and Professional Accountants (SOCPA) and in cooperation with the Communications and Information Technology Commission (CITC) and the National Committee of Information Technology and Communications of the Federation of Saudi Chambers (FSC), held an interactive workshop on software capitalization and development for tech companies. The workshop started with a speech by the Deputy Governor of CITC for Emerging Technologies Sector, Mr. Raed Al Fa...

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