The Saudi Organization for Certified Public Accountants (SOCPA) affirmed that passing the qualifying program for the profession of financial advisory for non-securities is a mandatory requirement for licensees to practice the profession, according to the regulatory rules approved by the Board of Directors.

The organization clarified that these rules will come into effect as of 16 Safar 1448 AH corresponding to July 30, 2026, noting that Article 4 requires licensees to pass the qualifying or training programs specified by the organization.

SOCPA called on licensees to complete the approved qualifying program well before the end of the license validity period, to ensure meeting renewal requirements and avoid any delays in procedures or mandatory suspension from practicing the profession due to not completing this requirement.

The organization indicated that the requirement to pass the qualifying program is part of its efforts to regulate the profession of financial advisory for non-securities, raise the efficiency of practitioners, enhance the quality of professional services, and protect the rights of beneficiaries.

It added that the Board of Directors adopted the regulatory rules for the profession within the framework of transferring the authority to issue licenses to practice the profession from the Ministry of Commerce to the organization. The rules included the terms and requirements of the license, its duration and renewal mechanisms, obligations of licensees, cases of license cancellation, suspension, or cessation of practice, as well as disciplinary penalties for violating its provisions.