SOCPA Holds a Virtual Workshop on Quality Management Standards

SOCPA Holds a Virtual Workshop on Quality Management Standards

Saudi Organization for Chartered and Professional Accountants held a virtual workshop on quality management standards, with attendees exceeding 370. The workshop introduced an overview of quality management standards and the most prominent differences between quality management standards and the previous quality control standard (1), since the quality management standards to be applied in the Kingdom of Saudi Arabia were approved by the Board of Directors of SOCPA. Thus, the accounting offices are obliged to design a system for quality management to be implemented on December 15, 2022. The quality management standards have replaced the previous quality control standard (1), and the quality management standards require offices to put into practice a risk-based approach by defining quality objectives, identifying quality risks that impede the achievement of objectives, and designing and applying responses to address risks.