SOCPA and KWAAA Sign MoU to Develop the Accounting and Auditing Profession

SOCPA has signed a Memorandum of Understanding (MoU) with the Kuwait Accountants and Auditors Association (KWAAA) to explore cooperation in developing the accounting and auditing profession and related fields between Saudi Arabia and Kuwait.
The MoU was signed by the CEO of SOCPA, Dr. Ahmed bin Abdullah Almeghames, and the Chairman of KWAAA, Mr. Sabah Mubarak Al-Jallawi.
The MoU includes several areas of cooperation between SOCPA and KWAAA, most notably the exchange of expertise in organizing and developing the accounting and auditing profession. Both parties will share knowledge and best practices to improve standards and professional procedures in this crucial sector.
The cooperation also includes organizing the board of directors and its technical committees, improving their operational procedures, enhancing professional development, organizing training programs, and monitoring the quality of professional performance and translation.
Additionally, the agreement encompasses the organization and promotion of joint conferences, forums, and training courses between SOCPA and KWAAA. Specialized trainers and training materials will be provided to enhance knowledge exchange and skill development in accounting and auditing.
There will also be coordination and alignment of views when voting in conferences and professional unions. Moreover, SOCPA and KWAAA will work towards achieving harmony and coordination on topics of mutual interest.
This MoU reflects the commitment of SOCPA and KWAAA to elevate the level of professionalism and quality in the field of accounting and auditing, as well as to strengthen cooperation between the two countries. This collaboration is expected to facilitate the exchange of knowledge and expertise and contribute to professional development benefiting accountants and auditors in both nations.