Saudi Organization for Chartered and Professional Accountants (SOCPA) and CPA Australia signed a letter of intention to advance the accounting profession, in a way that enhances cooperation and understanding between the two parties. This cooperation aims to maintain and consolidate professional and educational standards, and to leverage the profession internationally.
Cooperation between the two parties includes having discussions and negotiations on membership, which facilitates the admission of members of each body to the membership of the other party by recognizing their qualifications, experience and professional level, and considering exemption from some subjects in the programs and exams of certified public accountants of each body.
Furthermore, the two sides agreed to start discussing joint training programs that aim at developing capabilities in the fields of finance and accounting.