The Council of Ministers has transferred the authority for issuing professional accounting and auditing licenses from the Ministry of Commerce to SOCPA, according to a decision announced Tuesday, February 4, 2025. The transfer encompasses licensing for accounting and auditing, non-securities financial consulting, zakat and tax services, and accounting services.
SOCPA will now oversee the entire licensing process from application review through issuance, while supervising professional licensees and monitoring performance quality. The decision aims to strengthen oversight of the accounting and auditing profession and enable practitioners to deliver high-quality services that contribute to the national economy.