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عربي
27 Jan 2025
SOCPA is pleased to congratulate those who passed the IFRS Professional Certificate examination for the first cycle of 2024, wishing them continued success in their professional careers.
The Ministry of Human Resources and Social Development, in partnership with the Ministry of Commerce, has announced a decision to increase the localization rates of accounting professions to 70% in the private sector. This decision is part of efforts aimed at providing more stimulating and productive job opportunities for male and female citizens across different regions of the Kingdom. The decision will be implemented over 5 years beginning October 22, 2025. Private sector establishments w...
16 Jan 2025
The Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by its Accounting Standards Board, has adopted the International Accounting Standards Board's IFRS 19 for implementation in Saudi Arabia. The standard primarily aims to simplify financial statement preparation mechanisms and systems while reducing costs for non-publicly accountable subsidiaries when preparing their financial statements in accordance with the full IFRS, provided that the parent entity (int...
14 Jan 2025
The Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by its Accounting Standards Board, has adopted the International Accounting Standards Board's IFRS 18, which replaces International Accounting Standard (IAS) 1. This adoption involves significantly reviewing and developing parts of the standard while maintaining certain presentation and disclosure requirements and transferring other requirements to relevant International Financial Reporting Standards (suc...