Saudi Organization for Chartered and Professional Accountants (SOCPA)

The Saudi Organization for Chartered and Professional Accountants (SOCPA) is a Saudi government professional authority with a legal personality that oversees the accounting and auditing profession in the Kingdom of Saudi Arabia. It was established in 1992 and operates under the supervision of the Ministry of Commerce. Its headquarters is in Riyadh City.

SOCPA strives to advance and enhance the accounting and auditing profession by monitoring performance quality, promoting awareness of approved standards and ethics, regulating licensed professionals, reviewing and issuing licenses, providing full oversight to licensees, and empowering them to perform their roles to reinforce the national economy.

SOCPA is managed by a board of directors headed by the Minister of Commerce, with the membership of representatives from ministries and government entities in Saudi Arabia. The board is associated with three councils: the Accounting Standards Council, the Auditing Standards Council, and the Professional Performance Quality Monitoring Council. In addition, there are three committees: the Examination Committee, the Education and Training Committee, and the Professional Conduct and Ethics Committee.

SOCPA works on regulating the accounting and auditing profession, monitoring the quality of its performance, and developing and accrediting accounting and auditing standards, as well as other relevant professional standards. It also provides training and qualification for practitioners of the profession and accredits professional examinations for obtaining certifications in accounting and auditing.

SOCPA is tasked with issuing licenses for practicing accounting and auditing, offering non-securities financial consulting, delivering zakat and tax services, and providing accounting services. It has a membership base of around 95,232 individuals, with 640 certified public accountants. It has conducted approximately 2,830 training courses and also publishes a periodical titled Accountants.

In partnership with the Human Resources Development Fund (HRDF), SOCPA offers accredited professional certifications in auditing and accounting, including the fellowship certificate, VAT specialist certificate, accounting technician certificate, international standards certificate, government accounting training track certificate, and government auditing training track certificate.

SOCPA offers Etikal, a platform that connects individuals and businesses seeking accounting services with licensed accounting and auditing firms and certified accountants. The platform was launched in March 2022 in collaboration with the technical partner, Thiqah. It offers several online services that enable SMEs to contract with licensed accountants accredited by SOCPA. It also provides auditing services through a contractual channel with approved auditing firms. This aims to contribute to the growth of businesses, increase job opportunities for Saudi accountants in the private sector, and regulate the accounting services market.