The Board of Directors of the Authority has approved the International Accounting Standards, and accordingly, you will find in the links below the International Accounting Standards Approval document for application in the Kingdom of Saudi Arabia, the texts of the approved accounting standards, which include the decision to adopt each standard, and the additions that were acknowledged to each standard.
You can peruse this by visiting the website of the IFRS Foundation (www.ifrs.org).
You can peruse this by visiting the website of the IFRS Foundation (www.ifrs.org).
To follow-up the latest developments and updates, you can do so by visiting the website of the Saudi Organization for Chartered and Professional Accountants (SOCPA) (www.socpa.org.sa).
The Board of Directors of the Authority has approved the International Standards on Auditing, and accordingly, you will find in the links below the document of approving the International Standards on Auditing for application in the Kingdom of Saudi Arabia and the texts of the approved auditing standards, accompanied by the decision to adopt each standard.
You can peruse this by visiting the website of the International Auditing and Assurance Standards Board (IAASB) (www.iaasb.org).
To follow-up the latest developments and updates, you can do so by visiting the website of the Saudi Organization for Chartered and Professional Accountants (SOCPA) (www.socpa.org.sa).
Under the auspices of the Saudi Organization for Chartered and Professional Accountants (SOCPA), a group of consultants prepared these application guidelines, which are not considered a substitute for the approved standards, as they were not subject to standards approval procedures and hence do not cover all the requirements of the standards.
For perusal, please click here
To follow-up the latest developments and updates, you can do so by visiting the website of the Saudi Organization for Chartered and Professional Accountants (SOCPA) (www.socpa.org.sa).
Saudi Organization for Chartered and Professional Accountants (SOCPA), in accordance with its regulation, reviews, develops, and approves accounting and auditing standards, and this entails considering inquiries received by the Organization that may indicate confusion or ambiguity in the requirements of the standards, but this does not go beyond providing advisory services that represent applying the requirements of standards to specific cases, or to comment positively or negatively on the decisions taken or on the accounting policies applied by the inquirer.
The principle of confidentiality does not apply in dealing with these inquiries, as they are published to the public as received, according to the organization’s assessment of the importance of the inquiry to the public. The inquiries are answered in light of the requirements of the standards and the interpretations of the standards committees thereof, and in light of the information provided by the inquirer in his inquiry, and it does not exempt from any consequences that may arise from the practices of the entities or accountants, and the Organization does not assume or liable to any consequences that may result from the use of what is contained in its responses, whether by the inquirer himself or from other parties, and it is not required to inform the inquirer of any update on the Organization’s response if there are new amendments to the standards or any other matters.
To peruse the requirements for raising inquiries to the Organization or to view previous inquiries, you can do so by visiting the website of the Saudi Organization for Chartered and Professional Accountants (SOCPA) (www.socpa.org.sa).
