Reflecting the appeal of accounting and auditing professions in Saudi Arabia and the essential role of accounting professionals across various sectors, the number of individuals obtaining professional accounting certifications from the Saudi Organization for Chartered and Professional Accountants (SOCPA) has been steadily rising over the past several years. According to SOCPA’s latest statistical report on professional exams, a total of 5,472 accountants now hold these certifications.
The report, aimed at promoting transparency and providing insights into the historical performance of certification candidates, offers a comprehensive overview of key exams, including the Fellowship Exam, VAT Specialist Exam, and Accounting Technician Exam, conducted by SOCPA from 1994 to 2023. The report highlights key trends in exam participation, pass rates, and candidate performance.
The Fellowship Exam, in particular, saw a remarkable increase in participation over the past decade, with the number of candidates rising from 1,002 in 2013 to 8,703 in 2023, marking growth of over 650%. Additionally, female participation surged, climbing from 207 female candidates in 2013 to 3,788 in 2023.
The number of Fellowship certification holders also grew, increasing from 33 in 2013 to 156 in 2023. Meanwhile, the Accounting Technician and VAT Specialist Exams experienced substantial growth in both candidates and certified individuals from 2019 to 2023, with the VAT Specialist certification holders rising by 125% and Accounting Technician certification holders by 650% over this period.
This growth in SOCPA’s professional exam participation can be attributed to several factors, including the expansion of exam locations to 13 cities across the Kingdom, an increase in exam cycles to four per year for each exam, and SOCPA’s awareness efforts in partnership with educational institutions and the professional community to promote the value of these certifications.
The heightened demand for accounting certifications highlights their impact on professional development, as they empower holders to take on leadership roles, strengthening the significance of accounting and auditing in the job market.
To view the full statistical report on professional exams, click
here.