SOCPA Approves Amendment to Quality Management Sections

SOCPA Approves Amendment to Quality Management Sections

 

The Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by the Professional Ethics Committee, has approved an amendment made by the International Ethics Standards Board for Accountants (IESBA) to the sections related to quality management in the International Code of Ethics for Professional Accountants.
The primary aim of this amendment is to clearly align and harmonize the ethical requirements in the Code with the international standards for quality management (specifically International Standards on Quality Management (ISQM) 1 and 2, and the revised International Standard on Auditing (ISA) 220) by modifying certain terms and adding expressions and definitions that clearly align with these standards.