Saudi Organization for Chartered and Professional Accountants

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.

The aim of SOCPA is to develop and improve the practice of accounting and auditing, monitor its quality of performance, and raise awareness of the adopted rules and ethical standards. SOCPA is managed by a board of directors headed by the Minister of Commerce, with the membership of representatives from various ministries and government entities in the Kingdom.

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, ensuring 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 responsible for granting professional licenses to practice accounting and auditing, in accordance with the regulations and guidelines set by the Law of the Profession of Accounting and Auditing in the Kingdom. SOCPA has approximately 95,232 members and 640 certified accountants. It has offered around 2,830 training courses and publishes a periodic journal called Accountants.

In partnership with the Human Resources Development Fund, 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.