News - SOCPA

21 Mar 2023

To Enhance Cooperation and Enrich the Scientific Content of Accounting and Auditing, a Memorandum of Understanding ...

Saudi Organization for Chartered and Professional Accountants (SOCPA) signed a memorandum of understanding (MoU) with the General Secretariat of the Zakat, Tax and Customs Committees today, Tuesday March 21, 2023. This was an effort to enhance cooperation and experience and capabilities exchange in a way that serves the field of zakat, tax and customs disputes, and enriches the scientific, academic, training and knowledge content of the accounting and auditing profession. The signing took place...

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19 Mar 2023

SOCPA Comments on the Exposure Draft Amendment to the International Accounting Standard No. 12 "Income Taxes"

The International Accounting Standards Board (IASB) has published a project to introduce a limited amendment to the International Accounting Standard No. 12 "Income Taxes." This is to provide exemption for cross-border entities from accounting for deferred taxes that may result from the entity’s application of the requirements of the Organization of Economic Cooperation and Development project to overcome the challenges arising from the digital transformation of the eco...

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16 Mar 2023

SOCPA Represented by the Auditing Standards Council, Adopts the Standard "Consulting Services: Engagements to Provi...

Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by the Auditing Standards Council, has adopted the standard "Consulting Services: Engagements to provide Forensic Accounting Services." This standard adoption has resulted from a thorough study of the local market needs, and with the participation of a group of eminent judges and certified accountants during the development of the standard. To adopt this standard, SOCPA Auditing Standards Council has h...

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15 Mar 2023

SOCPA Issues the Translated Version of the Guide to the First Time Application of the Updated International Standar...

Among the efforts undertaken by the Saudi Organization for Chartered and Professional Accountants (SOCPA) to advance the profession of accounting and auditing and as a part of its support for small and medium-sized offices. Stemming from SOCPA keenness to transfer specialized knowledge from reliable sources, SOCPA has completed the translation and publication of the Arabic electronic version of " the Guide to the First Time Application of the Updated International Standard on Auditing (220)...

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15 Mar 2023

SOCPA Participates in Organizing the Intergovernmental Working Group of Experts on International Standards of Accou...

The United Nations Conference on Trade and Development (UNCTAD), represented by the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR), in cooperation with Saudi Organization for Chartered and Professional Accountants (SOCPA), has organized an exploratory meeting of the group with representatives of Gulf and Arab countries. In this meeting, a number of Arab professional bodies' heads participated. The meeting was held to discuss how to p...

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14 Mar 2023

SOCPA Comments on the Exposure Draft of the IFRS for SMEs Accounting Standard

The International Accounting Standards Board (IASB) published the third edition of the International Financial Reporting Standards (IFRS) for small and medium enterprises (SMEs) accounting standard to seek opinions on it. SOCPA, represented by the Accounting Standards Council, shared comments on the exposure draft and the updates that the International Accounting Standards Board (IASB) intends to introduce to the standard in order for its requirements to be in line with the requirements of the I...

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