2023 - SOCPA

04 Jun 2023

SOCPA Comments on Tentative Agenda Decisions of the IFRS Interpretations Committee

The International Interpretations Committee published three tentative decisions in response to inquiries received regarding the application of accounting standards. These inquiries included an inquiry about how to account for guarantee over a derivative contract, how to account for premiums receivable from an intermediary, and how to account for Homes and Home Loans Provided to Employees. Represented by the Accounting Standards Council, SOCPA agrees with the conclusion of the committee pertai...

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30 May 2023

SOCPA Celebrates 990 Individuals Who Recently Obtained Professional Certificates

On Monday, May 29, 2023, Saudi Organization for Chartered and Professional Accountants (SOCPA) organized the annual ceremony for those who obtained professional certificates for the year 2022, under the title "Our Success is a Story... You Can Live It". SOCPA celebrated 990 male and female accountants for obtaining professional certificates in Fellowship exams, VAT specialist, Accounting technician exams, the training course for governmental accounting and auditing, and the professiona...

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23 May 2023

SOCPA Participates in the First semiannual meeting of 2023 for the Emerging Economies Group

Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by the Accounting Standards Council, participated in the first semiannual meeting for 2023 of the Emerging Economies Group (EEG) of the G20 affiliated with the International Accounting Standards Board (IASB), which was established by the International Council to discuss issues of accounting standards from the point of view of emerging economies in order to reach accounting standards that increase the level of tran...

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22 May 2023

SOCPA Comments on the Code Addressing Tax Planning and Related Services

International Ethics Standards Board for Accountants (IESBA) published "Proposed Revisions to the Code Addressing Tax Planning and Related Services" which contributes to preserving the sustainability of the Code and enhancing its effectiveness as a tool that keeps the confidence of the international community in the accounting profession. This exposure draft came as a response from the Board to the need that arose from the international concern about the possibility of wealthy individu...

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16 May 2023

SOCPA Organizes a Workshop on the Executive Regulations of the New Corporate Law Issued by the Ministry of Commerce

With more than 640 licensees to practice the accounting and auditing profession in addition to professional services providers, Saudi Organization for Chartered and Professional Accountants (SOCPA), in cooperation with the Ministry of Commerce, organized a workshop on the executive regulations of the new corporate law issued by the Ministry of Commerce. The workshop was presented by Mr. Abdulmajeed Al-Abdulwahhab, Managing Director of the Companies Laws and Policies at the Ministry of Commerce. ...

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12 Apr 2023

SOCPA refers Several Violators to the Public Prosecution

Among Saudi Organization for Chartered and Professionals Accountants (SOCPA) relentless endeavor to play its role to regulate the accounting and auditing profession, and to control the quality of its performance, SOCPA has conducted a number of field visits and inspections of practitioners. These visits showed the commitment of many offices to the legal controls for practicing the activity. On the other hand, several individual and entity violations of providing accounting and auditing services ...

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