SOCPA Organizes Remote Workshop on Sustainability and the Future of ESG Practices with Over 750 Participants
The Saudi Organization for Chartered and Professional Accountants (SOCPA) organized a remote workshop titled "The Future of Environmental, Social, and Governance (ESG) Practices" on Saturday, October 28, 2023.
This workshop was part of SOCPA's efforts to enhance awareness and knowledge in sustainability reporting, focusing on the latest global practices and standards.
The workshop was presented by Dr. Michael Willis, an Associate Professor and Director of the Executive Master's in Accounting program at the Cambridge Judge Business School.
The event attracted a large audience, with approximately 750 participants, including accountants, auditors, and individuals interested in sustainability in the Kingdom.
Key topics covered in the workshop included the future of ESG practices, the importance of financial reporting systems in identifying the financial impacts of environmental and social practices, climate-related financial disclosures, and the need for transparent and accurate information on the effects of climate change on financial performance. Additionally, the role of the International Sustainability Standards Board (ISSB) in promoting standards and government guidelines related to sustainability was discussed.
Participants actively engaged during the workshop, posing numerous questions and sharing experiences and ideas about ESG practices. The importance of accountants' efforts in promoting sustainability and corporate social responsibility, and their crucial role in evaluating and documenting financial and sustainable disclosures, was highlighted.
At the end of the workshop, SOCPA expressed its gratitude to Dr. Michael Willis for his valuable contribution to enhancing knowledge and skills in sustainable accounting. SOCPA also reaffirmed its commitment to organizing similar events and workshops to boost awareness and professional development in this vital field, contributing to building a sustainable and environmentally responsible future.
It is worth noting that SOCPA is responsible for regulating and developing the accounting profession in Saudi Arabia, working to enhance the capabilities of auditors and accountants and promote professional and ethical standards in the accounting field.