The Saudi Organization for Chartered and Professional Accountants (SOCPA) has gained the membership of the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA). Representing SOCPA, both the Auditing Standards Committee and the Professional Ethics Committee participated in the regular meetings of the IAASB and IESBA last week in New York. The meetings were attended remotely by Mr. Ahmed Al-Shanqeeti, Chair of the Professional Ethics Committee, and Dr. Yasser Al-Nafisee, Advisor to the Professional Standards Department at SOCPA.
During these meetings, both boards welcomed SOCPA as the first Arab professional body to join their membership, highlighting the importance of SOCPA's experience in applying international standards.
Dr. Ahmad Almeghames, CEO of SOCPA, stated that this membership reflects the significance of the accounting and auditing profession in Saudi Arabia and its notable development in recent years. He also emphasized SOCPA's active contribution to international efforts in developing global standards.
It is worth noting that SOCPA is the official translator of the publications of both the IAASB and the IESBA. Additionally, Mr. Sami Al-Sharfa, a key member of SOCPA, serves on the IAASB.