2023 - SOCPA

03 Oct 2023

SOCPA Shares its Comments on the Request for Information Document Published by IASB

The International Accounting Standards Board (IASB) has published a Request for Information document concerning the impairment requirements for financial instruments under IFRS 9 "Financial Instruments", as part of the post-implementation review of the standard. In its response, SOCPA has expressed that although the impairment requirements in the standard lead to the early recognition of credit losses and provide useful information to financial statement users, these requirements incur...

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27 Sep 2023

SOCPA Showcases Saudi Arabia's Experience in AML/CFT to Omani Delegation

On Wednesday, September 20, 2023, a delegation from the Omani Ministry of Commerce, Industry, and Investment Promotion visited the Ministry of Commerce in Saudi Arabia. During this visit, the Saudi Organization for Chartered and Professional Accountants (SOCPA) showcased Saudi Arabia's experience in anti-money laundering and combating the financing of terrorism (AML/CFT) in the accounting sector. Representing SOCPA was the Executive Director of Operations, Mr. Mohammed Al-Ghiehab, who provi...

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19 Sep 2023

SOCPA Hosts the "SOCPA Professional Forum" to Elevate Accounting Knowledge and Expertise

On Monday evening, September 18, 2023, the Saudi Organization for Chartered and Professional Accountants (SOCPA) hosted the "SOCPA Professional Forum," drawing over 350 attendees holding professional certifications and licenses in accounting and auditing—the event aimed to enhance communication and knowledge exchange among experts and professionals. The forum featured various activities designed to enrich knowledge and enhance participants' expertise. Notably, the "Make...

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18 Sep 2023

SOCPA Comments on Rfi, Consultation on ISSB Agenda Priorities

International Sustainability Standards Board (ISSB) has published a request for information on Agenda Priorities of ISSB. Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by its Accounting Standards Council, outlined that the future challenge for the Board is how to apply the standards issued, especially in countries that do not give much attention to sustainability reports, and based on the reporting frameworks from which the Council’s standards began. Ac...

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27 Aug 2023

SOCPA Comments on IAASB's Exposure Draft of the Proposed International Standard on Auditing 570 Amendments

The International Auditing and Assurance Standards Board (IAASB) has published the Exposure Draft of the Proposed International Standard on Auditing 570 Amendments and amendments to other international auditing standards. The Board aims to facilitate effective responses to the material risk of deviations related to the going concern issue and to support the auditor’s evaluation of management’s assessment of the entity’s ability to continue as a going concern by emphasizing the ...

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24 Aug 2023

SOCPA Announces the Names of Recently Certified Accounting Technicians

Saudi Organization for Chartered and Professional Accountants (SOCPA) is pleased to congratulate those who have obtained the Accounting Technicians Certificate for the second Cycle of 2023, wishing them great success in their careers.

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