The Council of Ministers, in its session on Tuesday 25 Rajab 1442 AH corresponding to March 9, 2021, chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, Prime Minister, approved the adoption of the new accounting and auditing profession law.
Which came to respond to the developments taking place in the business environment in Saudi Arabia, the growing number of companies, and the high volume of investments, which calls for amendments to regulations and legislation to keep pace with the remarkable development and contribute to the increase of legal accountants and the organization of professions related to the profession of accounting and auditing for the need of small and medium entities for these professions.
From his part, the Secretary-General of SOCPA, Dr. Ahmed bin Abdullah Al Maghamis, expressed his deep appreciation to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Muhammad bin Salman bin Abdulaziz, and His Excellency the Minister of Commerce Dr. Majid bin Abdullah Al Qasabi, Chairman SOCPA's Board of Directors on this occasion. Stressing SOCPA's keenness to implement this law in a way that fulfills the aspirations of the stakeholders, expressing his hope that everyone will cooperate with SOCPA in using this law with full compliance to its provisions.