2022 - SOCPA

31 May 2022

SOCPA Holds Meeting of the General Assembly

SOCPA's General Assembly convened via a live feed on the 30th of May 2022. The meeting was chaired by Mr. Abdul Mohsen bin Abdulaziz Al-Faris, a member of the Board of Directors. The meeting agendas included approving SOCPA's 2021 financial statements, approving the 2021 board's report on SOCPA's activities, the appointment of SOCPA's statements auditor for 2023, and determining his remuneration. The meeting started with a speech by Mr. Al-Faris where he welcomed the members...

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31 May 2022

SOCPA Participates in the First Mid-Term Meeting of 2022 for the Emerging Economies Group

SOCPA Participates in the First Mid-Term Meeting of 2022 for the IFRS' Emerging Economies Group SOPCA, represented by its Accounting Standards Council, participated in the first mid-term meeting of 2022 for the IFRS's Emerging Economies Group (EEG) of G20 countries which took place on 16-17 May 2022. SOCPA was represented in this meeting by two members of the Accounting Standards Council, Mr. Ali bin Hassan Al-Basri, and Mr. Abdulaziz bin Saad Al-Hussan. The meeting focused on a ...

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30 May 2022

SOCPA Participates in the First IFCG Meeting for 2022

SOCPA Participated in the first Islamic Finance Consultative Group (IFCG) Meeting for 2022 which was held on the 10th of May 2022. SOCPA was represented by Mr.Ahmed bin Muhammad Al-Shanibir, a member of the accounting council at SOCPA. The IFCG is a group established by the International Financial Reporting Standards (IFRS) Foundation. The meeting focused on a number of subjects related to Islamic finance and the work of the IFRS and the International Sustainability Standards Board ...

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29 May 2022

SOCPA Begins Fifth Phase of the Project to Qualify Accounting Firms

SOCPA, in cooperation with the Saudi Central Bank, has begun the fifth phase of the project to qualify accounting firms to participate in the audits of financial statements of financial institutions. The project consists of 8 phases and is implemented with the participation of international professional bodies. The workshops will be held at SOCPAs headquarters and will last for 35 days. There will also be other intensive workshops that will be held for a period of six months at the headqu...

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23 May 2022

SOCPA Approves the Governing Rules for Accounting Services

In an effort to regulate, license, and control the profession of “accounting services”, SOCPA’s Board of Directors has approved the Governing Rules for Accounting Services, which enables holders of an accounting technician’s certificate to provide their accounting services in accordance with the rules and regulation. This step aims to enable those qualified to provide accounting services to provide their services in a legal and regulated manner which will contribute to r...

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19 May 2022

SOCPA Launches the “Electronic Data Upload” Service

SOCAP has launched the “Electronic Data Upload” Service which allows those licensed to provide Tax and zakat services to electronically supply SOCPA with the annually required data and information, making the process easier and more accurate than before. The new service is part of SOCPA's efforts toward digitizing its services to achieve the highest levels of quality performance and improve work. It also comes as part of the quality control program for the performance of those l...

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