The Saudi Organization for Chartered and Professional Accountants signed a Memorandum of Understanding (MoU) with the Association of International Certified Professional Accountants (AICPA), which aims to establish joint cooperation in the field of accounting, auditing, and several professional areas, including supporting the organization of the American Institute of Certified Public Accountants (AICPA) fellowship exams in Saudi Arabia. The MoU will open the dialogue to discuss cooperation opportunities regarding participation in CPD programs, sharing information and best practices between the two parties, and providing mutual support for hosting relevant international conferences.
"This MoU comes within the framework of the efforts of SOCPA to develop the accounting profession in Saudi Arabia, and qualify accountants to meet the changing needs of the market, as this MoU will facilitate for our local professionals obtaining the fellowship certificate of the American Institute of Certified Public Accountants (AICPA)." said the Secretary-General of the SOCPA Dr. Ahmed Al Maghamis. "Those wishing to be CPA certified can apply now for the fellowship exam without incurring the hassle and expenses of traveling abroad". It is expected that the exam will be held in three cities, namely: Riyadh, Jeddah, and Al-Khobar.
Al Maghamis also added that "Holding highly reputable international professional examinations in Saudi Arabia will contribute in providing the qualified professionals needed by various economic sectors, leading to raising the quality of financial information and enhancing the professional position of Saudi Arabia at the international level.
The MoU is part of SOCPA's emphasis on the importance of developing joint cooperation with international professional bodies to advance the accounting and auditing professions and strengthening Saudi Arabia's position internationally.