SOCPA Represented by the Auditing Standards Council, Adopts the Standard "Consulting Services: Engagements to Provide Forensic Accounting Services"
Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by the Auditing Standards Council, has adopted the standard "Consulting Services: Engagements to provide Forensic Accounting Services."
This standard adoption has resulted from a thorough study of the local market needs, and with the participation of a group of eminent judges and certified accountants during the development of the standard.
To adopt this standard, SOCPA Auditing Standards Council has had undertaken a number of executive procedures, and discussed them during several Council meetings to ensure the issuance of the standard with the necessary quality to achieve its objectives. These procedures include:
1. Conducting a research study of international best practices and views of stakeholders and specialists, in addition to studying local laws, regulations and standards.
2. Developing a draft standard in the light of international best practices, and in a manner commensurate with the local regulatory environment.
3. Holding meetings with judges and certified accountants to discuss the draft standard.
4. Presenting the draft standard to the public.
5. Studying the comments of stakeholders, and updating the draft standard accordingly.
6. Adopting the standard final form.
This standard can be viewed by clicking here.