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05 Apr 2020
SOCPA took a series of initiatives to mitigate the financial and economic impact of the crisis so as to support its professionals and entities licensed to practice accounting and auditing. Such efforts are in line with the Kingdom's measures and procedures to address Covid-19; this included deferring collection of annual subscription fees of accounting and auditing offices and entities to the end of 2020, and not enforcing required CPE hours for 2020. In addition to controls relating to w...
29 Mar 2020
The world is currently facing rapid changes related to the spread of the new coronavirus (covid - 19). Countries around the world, including Saudi Arabia, are taking precautionary and preventive measures to reduce the spread of the virus and mitigate its effects. One of the most important precautionary measures taken is limiting face-to-face contact with others as much as possible, including pausing meetings and mixing in workplaces and shopping. Such measures might even nessicates imoisng a f...
15 Mar 2020
25 Feb 2020
SOCPA and the Education and Training Evaluation Commission have signed a memorandum of understanding to strengthen the ties between the two highly respected organizations and to establish a framework for cooperation between the two bodies to identify and adopt ways to coordinate tasks between them. This memorandum establishes closer cooperation in several professional areas, including conducting research and consulting on educational outcomes, and participating in the evaluation of Bachelor'...
16 Feb 2020
SCOPA wishes to note that International Accounting Standards Board issued a request for information about updating method of IFRS for small and medium-sized entities. Through this document, The International Council wishes to know the point of view those interested on how to update the standard and whether it is preferable to update based on the updates to the full version of the international standards. SCOPA, represented by the Accounting Standards Committee, hopes to provide it with view...
05 Feb 2020
SOCPA participated in the decision of the International Accounting Standards financial report Interpretation Committee of the International Accounting Standards Board on how to account for payments when players move between clubs, in which that committee decided that the requirements of the current standards were sufficient and there was no need to issue an explanation. In its response to International Committee’s decision, SOCPA considers that both requirements of IAS 2 “invent...