RIYADH: The Saudi Organization for Chartered and Professional Accountants has referred a commercial establishment to the Public Prosecution after detecting that it had advertised professional services without obtaining the required license, the Saudi Press Agency reported on Friday.
The organization said legal procedures had been taken against the establishment following initial inspection and investigation, which found that it had advertised on its website that it provided professional services subject to SOCPA’s supervision without obtaining the required authorization.
The move comes as part of SOCPA’s ongoing efforts to strengthen its regulatory and supervisory role over the accounting and auditing profession and its branches, while protecting the profession and beneficiaries from unlawful practices, according to the SPA.
SOCPA oversees the accounting and auditing profession in the Kingdom, including professional standards and licensing, and works to promote compliance with regulations governing professional practice.
The organization said the practices identified in the case fall under offenses prohibited by Article 10 of the Accounting and Auditing Profession Law, which includes misleading the public into believing that a person has the right to practice the profession when that person does not hold a license, or when their license has been revoked or suspended.
SOCPA maintains lists of licensed firms and professional service providers, allowing beneficiaries to verify whether providers are authorized to offer accounting, auditing, zakat and tax, and other services under its supervision.
The organization also emphasized that professional services subject to its supervision must not be provided without the necessary licenses, while licensed practitioners must comply with all relevant laws, regulations and decisions.
The organization urged beneficiaries to verify the licenses of professional service providers before engaging with them and to report any practices suspected of violating regulations.
