SOCPA: 126% increase in professional licenses issued during the past five years

Saudi Organization for Chartered and Professional Accountants:
 126% increase in professional licenses issued during the past five years
 
In an achievement that reflects the impact of the strategic transformation of the accounting sector, the Saudi Organization for Chartered and Professional Accountants announced an increase of 126% in the number of professional licenses issued over the past five years, compared to the total issued since the Organization was established more than 33 years ago.
This growth comes as an extension of the generous support the profession has received from the wise leadership, through the approval of the accounting profession system and the approval of how SOCPA is organized, which constituted a pivotal turning point in the path of developing the professional environment.
This growth represents a success in implementing the Organization's strategy (2021–2025), which was launched under the directives of His Excellency the Chairman of the SOCPA's Board of Directors, Dr. Majid bin Abdullah Al-Qasabi, and with the support and empowerment of the Board of Directors members with an ambitious vision aimed at raising the efficiency of the profession, empowering national cadres, enhancing the accounting work environment, and contributing to the efficiency of the national economy.
The strategy focused on comprehensive transformation axes that included increasing the number of professionals through effective qualification and licensing programs, and restructuring the professional examination system and fellowship exams to enhance efficiency.
It also included creating value-added professional services that keep pace with market developments, achieving complete digital transformation in procedural processes to accelerate services and improve the beneficiary experience, and expanding and qualifying the base of professional offices to support competitiveness and quality.
The Organization stressed that this growth in the issuance of professional licenses reflects a qualitative shift in the attractiveness of the profession, and represents a successful strategic step in aligning the sector with the goals of the Kingdom's Vision 2030, especially with regard to developing the business environment, raising the efficiency of economic performance, and enhancing the attractiveness of the market for investment.