SOCPA Board Issues Decision to Amend Accounting Services Regulations
The Board of Directors of the Saudi Organization for Chartered and Professional Accountants (SOCPA), in its fifth meeting of the tenth session held on December 24, 2023, issued Decision No. (1/2) introducing three amendments to the regulations governing accounting services. The amendments include:
1- Adding a new paragraph (3) to Article 16, stating:
"3- The committee, based on a referral from the relevant department within SOCPA, will consider any violations of these regulations."
2- Modifying Article 11 to include the phrase: "The licensee must adhere to the following," at the beginning of the article.
3- Amending Article 17 to allow for the possibility of re-licensing after a revocation period of three years instead of five years.
These are the first amendments to the regulations since their issuance under Board Decision No. (4/1) dated April 2, 2022.
For more details on the regulations governing accounting services, please click here.