SOCPA, represented by its CEO Dr. Ahmed Al-Meghemis, participated in the virtual international webinar titled “Moving From Cash-Basis to Accruals-Basis Accounting”, which was organized by the International Federation of Accountants (IFAC) and the World Bank MENA Group on Tuesday, June 21, 2022.
Dr. Al-Meghames spoke about SOCPA's role in the transition to Accruals-Basis Accounting in the kingdom, highlighting SOCPA's role in developing and enhancing the specialized technical capabilities needed to carry out daily accounting activities according to the requirements of the transition and enabling staff in the concerned government agencies to acquire the knowledge, capabilities, and skills necessary to implement the transition to the accrual basis Accountant.
He also stressed that educating the staff and providing them with the necessary knowledge was the basis for the successful transition, and explained the essential role of the Ministry of Finance represented by its Accrual Accounting Center in materializing the successful transition in the Kingdom.
SOCPA's participation comes as part of its efforts to enhance international communication and to communicate the Kingdom's efforts in advancing the accounting and auditing profession and transfer experiences and expertise to the international accounting community.