The Saudi Organization for Chartered and Professional Accountants (SOCPA) signed a data-sharing agreement with the National Labor Observatory at the Human Resources Development Fund. The agreement aims to strengthen institutional integration and advance the national data ecosystem that supports the Kingdom's labor market.
Under the agreement, SOCPA will contribute its specialized data in the fields of auditing, accounting, licensing, certifications, and memberships. This data will support the National Labor Observatory's efforts to develop statistical indicators, prepare analytical reports, and conduct labor market studies. It will also help provide decision-makers with accurate and reliable data.
The agreement establishes data-sharing protocols aligned with the highest governance standards. Both parties committed to complying with the policies of the National Data Management Office and the Personal Data Protection Law. The agreement emphasizes information confidentiality and security, restricts data use to specified purposes only, and promotes integration among government entities while reducing data duplication and redundancy across sources.
Both parties affirmed their commitment to applying best practices in data quality, as well as in the secure exchange and storage of data within the Kingdom of Saudi Arabia. These measures will strengthen the reliability of statistical and analytical outputs and support the development of labor market and employment studies and research.
This agreement extends SOCPA's role in supporting national initiatives and strengthening strategic partnerships with governmental entities, in line with the objectives of Saudi Vision 2030. It also contributes to building a comprehensive and reliable national data ecosystem.
SOCPA emphasized that this agreement reflects its professional standing and central role in regulating the profession. The organization reaffirmed its commitment to leveraging its expertise and data to support national development and enhance labor market efficiency, reinforcing the trust of relevant stakeholders and demonstrating its dedication to excellence, governance, and professionalism.