Saudi Arabia fights forged accounting certificates to enhance sector performance

SOCPA recorded about 517 forged accounting certificates out of 200,000 submitted to the authority during the past three years

  
Image used for illustrative purpose.

Image used for illustrative purpose.

 
RIYADH: The Saudi Organization for Chartered and Professional Accountants (SOCPA) recorded about 517 forged accounting certificates and 191 unrecognized certificates out of 200,000 submitted to the authority during the past three years, the authority said.

The authority aims at limiting the use of forged certificates and ensuring the integrity and credibility of the documents and information received, SOCPA said in the report in a report titled “The role of the accounting profession in building a thriving economy.”

All the owners of those forged certificates were referred to the Public Prosecution, Secretary-General Ahmed Al-Meghames said.

SOCPA adopted international standards and the application of 110 international standards in the Kingdom, and played a role in raising the level of performance of practitioners of the accounting and auditing profession, by offering 1,101 training programs during which more than 25,000 people were trained, according to the report.

The authority’s report also reviewed an increase in the number of certified public accountants by 98 percent, to reach 436.

The pace of membership in the authority has also increased in the past years, with more than 99,000 members joining it, including 4,900 students, through student membership.

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