Official government website of the Government of the Kingdom of Saudi Arabia
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Registered with the Digital Government Authority under number :

20250521156

2025

16 Jan 2025

SOCPA Adopts IFRS 19 for Implementation in Saudi Arabia

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...

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14 Jan 2025

SOCPA Adopts IFRS 18 for Implementation in Saudi Arabia

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...

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Last Update On: 14 Jan 2025