Cooperation agreement between SOCPA and the Local Content and Government Procurement Authority
SOCPA and the Local Content and Government Procurement Authority recently signed a cooperation agreement to develop a framework for cooperation between the two bodies to qualify accounting offices to perform auditing and accounting of the local content ratio of private sector entities.
The agreement aims to achieve cooperation in providing support and advice on the mechanisms of auditing local content, qualifying accounting offices to conduct auditing and accounting procedures on the local content ratio in various sectors, in addition to designing a training program to qualify accountants to audit local content ratio, implementing an exam to measure the awareness of trainees and granting them certificates to qualify them in performing their duties.
SOCPA's Secretary-General Ahmed Al Mughames wishes that cooperation efforts between the two bodies will be successful, stressing the need to establish solid professional relations with government entities, looking forward to achieve alignment between the two bodies and qualify a large number of accountants to measure the local content baseline of entities, and provide them a local content certificate that enables them to participate in government tenders which require a minimum threshold of local content.