The following words and phrases – wherever they appear in this Law – shall have the meanings indicated next to each of them unless the context requires otherwise:
Law: Law of the Profession of Accounting and Auditing.
Regulation: The Implementing Regulation of the Law.
Minister: A minister from the members of the Council of Ministers appointed by an order from the Prime Minister based on a proposal from the Council of Economic and Development Affairs.
Authority: Saudi Organization for Chartered and Professional Accountants.
Council: Board of Directors of the Authority.
Profession: The profession of accounting and auditing.
License: A document issued by the Authority that permits the holder to practice the profession in accordance with the conditions and regulations specified in the Law and the Regulation.
Certified Accountant: A natural or legal person licensed to practice the profession.
Committee: The committee that considers administrative and professional violations in accordance with the provisions of the Law.

The profession may not be practiced without a license issued in accordance with the provisions of this Law.

Conditions for granting a license shall be as follows:
1. For a full-time professional, the applicant must:
a) be a Saudi national;
b) be competent;
c) hold a bachelor's degree or a higher degree in accounting or any relevant specialty according to the standards specified by the Regulations;
d) be a full member of SOCPA and have at least one year of relevant experience; and
e) be of good character and not have been convicted in a hadd offense or any other offense impinging on honor or integrity, unless his record has been expunged, nor dismissed from public service pursuant to a disciplinary decision, unless three years have lapsed from the date of the decision.
2. For a part-time professional, a license may be granted according to the rules specified by the Regulations, taking the following into consideration:
a) The conditions stipulated in paragraph (1) of this Article.
b) Setting a maximum period for practicing the profession on a part-time basis.
c) Increasing the number of supervisory hours required of the licensee for each client and setting the maximum total hours per year.
d) Refraining from providing audit services to high-risk companies

1- The license application is submitted to the authority in accordance with the procedures specified by the council.

2- The authority issues its decision to approve the granting of the license, or to reject the license application with justification, within a period specified by the regulation, and the license applicant has the right to appeal the rejection decision before the administrative court.

3- The regulation specifies the procedures for studying the license application and deciding on it, its duration, and the conditions for its renewal.

4- The council determines the financial fee for the license.

Without prejudice to the penalties stipulated in Article (10) of the Law, the Authority may issue a decision to revoke the License. Anyone whose License has been revoked may appeal against this decision before the Administrative Court. The revocation of the License does not result in the cancellation of their membership in the Authority.

A certified public accountant must have a main office to practice the profession and he may open branches. He must notify SOCPA of the address of his main office and the address of his branches, if any, and of any change thereto within a period not exceeding 14 days from the date of the change. All notices served to the main address registered with SOCPA shall be deemed valid.

A certified public accountant shall:
1. sign and certify reports he issues; however, if the report is issued by a professional company, the report shall be signed and certified by the partner who participates in or supervises the preparation of the report;
2. use his personal name as the name of his main office; he may, however, use any other name, provided that it is coupled with his personal name. Any correspondence, documents, reports, or statements issued by him must include his personal name and license number. He shall also display his license in a conspicuous place in his office;
3. provide SOCPA with necessary information on his activity, in accordance with the Regulations;
4. comply with the profession’s rules, code of conduct, and ethics, as well as with accounting, auditing, and technical standards approved by the Board;
5. maintain documents, reports, and financial statements for a period of not less than 10 years from the date of issuing his report on each audited fiscal year, in accordance with the rules specified by the Regulations;
6. provide SOCPA, upon request, with reports and audited financial statements using any means it deems fit;
7. hire a specific percentage of Saudi nationals in accounting and auditing jobs in accordance with the Regulations and in line with the Labor Law and relevant decisions; and
8. comply with the number of hours specified in the Regulations for supervising each audit for which a report is issued

A certified public accountant may not:
1. audit companies or institutions in which he has a direct or indirect interest, subject to the Regulations;
2. exceed the maximum number of listed joint-stock companies as determined by the Capital Market Authority or unlisted joint-stock companies as determined by the Board which he may audit annually;
3. disclose any information related to any of his clients to which he becomes privy or use the same for his own benefit, except with the express consent of the client or upon a request from relevant government agencies; and
4. audit accounts of joint-stock companies, banks, and public agencies and institutions prior to the lapse of five years from the date of obtaining the license.

1. If, for any reason, a certified public accountant ceases to practice or is suspended from practicing the profession temporarily or permanently, he shall notify SOCPA and his clients within 30 days from the date of cessation or suspension. If his suspension is permanent or exceeds two years, the license shall be deemed revoked.
2. If a certified public accountant is permanently suspended from practicing the profession or if he ceases to do so for a certain period and such cessation negatively affects his clients or others, he or his representative shall notify SOCPA of all rights, obligations, and pending activities in order to address the same in accordance with the procedures specified by the Regulations.

1. Without prejudice to any penalty stipulated under any other law, any person who commits one or more of the following offenses shall be subject to imprisonment for a term not exceeding five years and a fine not exceeding two million riyals, or either penalty:
a) Providing false information or forged certificates to obtain a license.
b) Leading the public to believe that he has the right to practice the profession despite the fact that he is unlicensed, his license is revoked, he ceased practicing, or he is suspended from practicing the profession.
c) Knowingly providing false information or concealing information which should be disclosed in any report, account, or document.
d) Certifying false reports or documents which include false facts the issuance of which is legally or professionally required. e) Certifying the distribution of fictitious profits.
f) Disclosing client’s confidential information.
g) Certifying financial reports which have not been audited by him or an accountant working under his supervision.
h) Providing or aiding in the provision of false information relating to the qualifications of his employees and their experiences in the field of accounting and auditing or other fields required by the profession.
2. The court may include in the judgment a stipulation that a summary thereof be published at the expense of the convicted person in one newspaper or more issued in the area of his residence, or, if his area has no newspaper, in the newspaper of the area nearest to his place of residence, or by using any other appropriate medium; such action shall depend on the type, gravity, and impact of the committed offense, provided the summary is published after the judgment becomes final.