2021 - SOCPA

20 Oct 2021

SOCPA's Audit Standards Committee Approves Amended ISA No. 220

SOCPA, represented by Audit Standards Committee, approves the amendments introduced by the IASB to ISA No. 220 "Quality Control for an Audit of Financial Statements". Such approval was preceded by an examination of IASB’s amendments, as well as satisfaction of SOCPA’s procedures to follow developments of international standards, and respond to inquiries and issues that are not addressed by international standards. Accordingly, the committee decided to approve the amended...

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20 Oct 2021

SOCPA Delegation Visits the General Court of Audit

A delegation from SOCPA headed by the Executive Director of Membership and Professional Qualification Dr. Musab al-Ja'id visited the headquarters of General Court of Audit in Riyadh. The delegation was received by the Director General of the Saudi Center for Financial Auditing and Performance Monitoring at the General Court of Audit Dr. Salem Bin Ali Al-Ghamdi. The visit began with a tour of the headquarters of the General Court of Audit, followed by the discussion of seve...

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19 Oct 2021

SOCPA organizes a seminar titled "Accounting Standards in the Public Sector in Saudi Arabia"

SOCPA, in cooperation with Prince Sultan University, organized a seminar within the initiative to align education outcomes with labor market requirements under the title: "Accounting Standards in the Public Sector in Saudi Arabia". The seminar saw the participation of over 93 faculty members from various accounting departments from Saudi universities. The seminar was presented by Mr. Abdullah Al-Humaida, Director of the Department of Accounting Standards and Policies at the Accr...

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10 Oct 2021

SOCPA's Audit Standards Committee Holds A Workshop On Accounting Services For Judicial Sector

SOCPA represented by the Audit Standards Committee organized a workshop to discuss the accounting services provided to the judiciary, in which a number of eminent judges and chartered accountants participated. The workshop was held remotely on Monday 27-02-1443 H (04-10-2021). The workshop was opened with a speech by Mr. Abdullah bin Ahmed Al-Amash, chairman of the Audit Standards Committee, where he welcomed the participants and stressed the importance of this topic, which comes wi...

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06 Oct 2021

SOCPA Participates in The World Standard-setters Conference

SOCPA participated in The World Standard-setters Conference which was held virtually on 27–28 September 2021, and was represented by Dr. Ahmed Almeghames, CEO of SOCPA, and Mr. Mr. Fahad Al-Taimi, Chairman of the Accounting Standards Committee at SOCPA. The conference represented a unique opportunity to listen and exchange opinions and views directly from IASB members on the latest standards and their relevant interpretations. It is also considered an open forum where standard-sett...

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04 Oct 2021

SOCPA Shares its Comments with the IASB on Proposed Amendment to IFRS 17

The International Accounting Standards Board (IASB) published an Exposure Draft titled (Initial Application of IFRS 17 and IFRS 9— Comparative Information, Proposed amendment to IFRS 17) concerning entities that will transition to the two standards, IFRS 17 and IFRS 9, together starting in 2023. The proposed amendment relates to financial assets and allows the resubmission of the comparative figures of financial assets that were prohibited by IFRS 9 SOCPA, represented by the Accoun...

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