News - SOCPA

28 Sep 2021

SOCPA Shares its views on IASB's Five-Year Plane

The International Accounting Standards Board (IASB) published an Agenda Consultation and a Request for Information regarding its work plan for the next five years. The Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by its Standards Committee, responded to the information request and shared its views on the plan. SOCPA believes that it is important for IASB when looking at investor's needs of information since it is an important criterion for the board, it ...

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20 Sep 2021

SOCPA Members Elect their Representatives for Board of Directors' 10th Session

Headed by Mr. Abdulmohsen bin Abdulaziz Al-Fares, member of the board of directors, SOCPA on Sunday held its general assembly via remote video conferencing. The meeting was held so that Full Members can vote on a list of candidates for membership in the board of Directors of SOCPA in the 10th session. The election process was completely electronic, and the winners of the elections are: Mr. Khalil Ibrahim Al-Sudais, Mr. Ali Abdulrahman Al-Otaibi and Mr. Fahad Mohammed Al-Taimi. SOCPA congratul...

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16 Sep 2021

SOCPA Announces Names of New SOCPA Fellowship Recipients

SOCPA is pleased to congratulate all new holders of its fellowship certificate for the second cycle of 2021، We wish them more success in their careers.

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13 Sep 2021

H.E Minister of Commerce Chairs SOCPA's Board Of Directors 8th Meeting

SOCPA's Board of Directors held its 8th meeting for the 9th session on 12/9/2021 under the chairmanship of H.E. Minister of Commerce and Chairman of SOCPA's the Board of Directors Dr. Majid bin Abdullah Al-Qasabi. The meeting was held remotely via video conference. During the meeting, the participants discussed the various topics on the agenda, and relevant and necessary resolutions were issued. Most notably, the meeting resulted in the adoption of the procedures for applying to p...

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05 Sep 2021

SOCPA Shares its Comments on Proposed Amendments to the IAS 21

The International Accounting Standards Board (IASB) published a draft amendment to IAS 21, "The Effects of Changes in Foreign Exchange Rates", to provide appropriate accounting treatment for determining exchange rates when an entity is faced with a situation where a foreign currency cannot be exchanged. SOCPA, represented by its Accounting Standards Committee, expressed its views on the draft in a letter addressed to IASB. Specifically, SOCPA has proposed reconsidering the definition ...

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01 Sep 2021

With the participation of 155 accounting firms, SOCPA organizes workshops to develop the annual data submission of ...

SOCPA, represented by the Review and Quality Control Department, organized a workshop to Improve and develop the annual data submission platform. The workshop was held remotely via ZOOM with the participation of 155 accounting firms. SOCPA aims by holding these workshops to introduce the platform to the participants as well as to look for solutions to the problems that firms encounter in dealing with the platform. The workshop's agendas included the introduction of t...

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