The Saudi Organization for Certified Public Accountants (SOCPA) has confirmed that passing the qualifying program for the profession of non-securities financial consulting has become a mandatory condition for licensees to practice the profession, according to the regulatory rules adopted by the Board of Directors of the Organization.

The Authority clarified that the rules will come into effect starting from 16 Safar 1448 AH, corresponding to July 30, 2026, where Article 4 of the rules requires passing the qualifying or training programs specified by the Authority.

SOCPA added that licensees must pass the approved qualifying program a sufficient time before the expiration of the license period, to ensure meeting the requirements for license renewal and avoid any delays in its procedures or the mandatory suspension of practicing the profession as a result of not fulfilling this condition.

Organizing the profession and enhancing the quality of services

In the same context, the Authority pointed out that the requirement to pass the qualifying program is part of its efforts to organize the profession of non-securities financial consulting, raise the efficiency of practitioners, enhance the quality of professional services, and protect the rights of beneficiaries.

It is worth noting that the Board of Directors of the Authority adopted the regulatory rules for the profession as part of transferring the competence of issuing licenses to practice it from the Ministry of Commerce to the Authority. The rules include the conditions and requirements for the license, its duration and renewal mechanisms, in addition to the obligations of licensees, cases of license cancellation, suspension or cessation of practicing the profession, and disciplinary penalties resulting from violating its provisions.

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