2021 - SOCPA

15 Feb 2022

UNCTAD and SOCPA Offers a Program to Qualify Trainers in Various Professional Bodies

SOCPA has started training accounting personnel in the Middle East and North Africa regions, through a course in accounting for micro, small and medium enterprises (MSMES). This comes as the United Nations Conference on Trade and Development (UNCTAD) commissioned the SOCPA to provide a professional course aimed at qualifying trainers for professional bodies in a number of African and Middle Eastern countries to better utilize the accounting training manual for small, medium and micro-enterprise...

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14 Feb 2022

IFAC praises SOCPA's Experience in Developing Accounting Education

The International Federation of Accountants (IFAC) praised SOCPA for its role in the development of accounting education and the quality of educational outputs for university education in the kingdom. The federation recommended replicating the SOCPA experience in the Arab countries and benefiting from it as a leading professional organization in the region. The federation also proposed holding a regional meeting that brings together the countries of the Middle East to unify the efforts towards...

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13 Feb 2022

SOCPA shares its comments on the Tentative Agenda Decision of IFRS Interpretations Committee (IFRS 15)

The IFRS Interpretations Committee has asked for comments on its tentative agenda decision regarding how to adapt an entity's transactions that involve the reselling of software to a third-party, and whether the entity in questing can be considered a principal or agent when it is obligated to provide advice to the end-user about the software and has the right to negotiate prices. SOCPA concurred with the Committee's conclusion that the principles and requirements in IFRS Standards provi...

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09 Feb 2022

SOCPA Adopts a Set of Regulations and Policies as Part of its Push for More Governance

SOCPA continued to govern its work and institutionalize the accounting work after the Board of Directors approved a set of regulations and specialized policies that will ultimately lead to higher quality and performance. The Board approved the SOCPA's Terms of Reference, the Conflict-of-Interest Policy, the Advisory Board's Regulations, the Board of Directors Regulations, the Education and Training Committee Regulation, the Professional Ethics Committee regulation, the Professional Perf...

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07 Feb 2022

SOCPA Issues Professional Examinations Guide 2022

SOCPA issued a Professional Examinations Guide that includes all the examinations that SOCPA intends to hold during the year 2022 (1443h - 1444h). The guide includes an introduction to SOCPA's fellowship exam, the Accounting Technician exam, the VAT Specialist Exam, in addition to the Professional Certificate Exam in the International Financial Reporting Standards (IFRS), and the Professional Certification Exam for the two training track programs in accounting and government auditing....

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06 Feb 2022

SOCPA Shares its Comments on Creating Separate Standard for LCE

The International Auditing and Assurance Standards Board (IAASB) published an exposure draft concerning an independent Auditing standard for Less Complex Entities (ISA for LCEs). This proposal comes as a response from the Board to the needs of Practitioners and regulatory bodies to have professional guidance for less complex entities. The current basic auditing standards were improved upon and developed with time to be more suitable for complex entities, which led to further depth and complexity...

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