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News

08 Jul 2024

SOCPA Launches Leadership Development Program

  This July, the Saudi Organization for Chartered and Professional Accountants (SOCPA) launched its Leadership Development Program, an initiative that first opened for registration in January.    The program is designed for Saudi professionals specializing in accounting and finance roles across the government, private sector, and accounting firms, aiming to equip them with essential leadership skills and qualities. The program’s focus includes building effective lea...

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26 Jun 2024

SOCPA Releases 2024 Updated Edition of IFRS Standards

In a move to strengthen the adoption of International Financial Reporting Standards (IFRS) in Saudi Arabia, the Saudi Organization for Chartered and Professional Accountants (SOCPA) has published the complete updated edition of IFRS standards for 2024.  This release, made in partnership with the International Accounting Standards Board (IASB), aligns with SOCPA’s commitment to supporting global financial reporting practices within the Kingdom. The updated edition, effective as of J...

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26 Jun 2024

Second Edition of the Accounting Solutions Hackathon Launched

  The Saudi Organization for Chartered and Professional Accountants (SOCPA) has announced the opening of registration for the second edition of the Accounting Solutions Hackathon. This initiative aims to provide professionals interested in the accounting field an opportunity to participate in creating technological solutions to advance the accounting and auditing professions.   This year’s hackathon aligns with the upcoming Accounting Technologies Conference in October a...

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13 Jun 2024

SOCPA Participates in IASB's Emerging Economies Group Meeting

  SOCPA, represented by its Accounting Standards Council, participated in the periodic meeting of the International Accounting Standards Board's (IASB) Emerging Economies Group, held in China from May 28-29, 2024. SOCPA was represented at the meeting by Accounting Standards Council members Mr. Abdulrahman Al-Aqeel and Mr. Ali Al-Basri who attended in person, while Dr. Abdulrahman Al-Razeen, Executive Director of Professional Standards, participated virtually. The meeting discussed se...

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10 Jun 2024

SOCPA Presents Its Views on ISA 240 Update

  The International Auditing and Assurance Standards Board (IAASB) has published an Exposure Draft to update International Standard on Auditing 240, "The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements." The update aims to clarify the auditor's role and responsibilities regarding fraud in financial statement audits by enhancing the standard's content to emphasize the appropriate level of professional skepticism during audit procedure...

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04 Jun 2024

SOCPA Comments on Proposed Ethics Standards Updates for Sustainability Assurance

  The International Ethics Standards Board for Accountants (IESBA) has published an exposure draft proposing updates to the International Code of Ethics for Professional Accountants. The Board proposes adding Part 5 to cover requirements for compliance with ethics and independence standards for sustainability assurance engagements and reporting. This initiative responds to the global transformation and increasing stakeholder demand for sustainability-related information. The exposure dra...

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Last Update On: 01 Jul 2021