As part of the Saudi Organization for Chartered and Professional Accountants’ (SOCPA) oversight efforts to ensure professional quality and advance accounting and auditing practices, SOCPA conducted field visits in response to reports that certain entities were unlawfully claiming the right to practice the accounting and auditing profession in the Kingdom. These efforts resulted in referring two establishments to the Public Prosecution to complete the necessary legal procedures.
Preliminary inquiry procedures showed that one establishment, which provides financial and administrative consulting services, had promoted on its website that it specializes in providing accounting and auditing services without obtaining a professional license for those services.
It was also found that the other establishment, which practices zakat and tax accounting services, submitted a proposal to a client that included issuing financial statements by a “Certified Public Accountant,” without holding a professional license to practice this activity.
These actions constitute violations under Article (10) of the Law of the Profession of Accounting and Auditing, which criminalizes misleading the public by any means that suggests a violator has the right to practice the profession without a lawful license, or where the license has been cancelled or suspended.
SOCPA emphasized that anyone who commits such acts exposes themselves to penalties of up to five years’ imprisonment and a fine of up to SAR 2 million.
SOCPA further underscored its commitment to protecting the profession from unlawful practices and called on everyone to obtain the necessary licenses before practicing, in order to safeguard professional quality and public trust in accounting services. SOCPA also warned the public against deceptive advertisements for accounting services on social media or elsewhere, and urged verification of providers’ compliance through SOCPA’s official website.
The public is urged to report any professional violations via the electronic form available on SOCPA’s official website.