Using a SOCPA-licensed auditor

The situation

The Companies Law requires licensed auditors. In Saudi Arabia, auditors are licensed under SOCPA's rules.

The law

• Companies Law (effective 19 January 2023): One person can own an LLC; financial statements deposited within 6 months of year end

What it means for you

Check the firm's licence before engaging. An unlicensed signature can make the statements unusable for Qawaem and ZATCA. Agree a timeline that meets the 120-day tax deadline.

What to do

1. Check the auditor's SOCPA licence.
2. Sign an engagement letter.
3. Agree dates.

Related

• Mismatch between Qawaem and ZATCA figures
• Missed the Qawaem deadline
• Who files statements for an LLC
• Audit required for foreign-owned micro company
• Losses reach half of capital
• What Qawaem is and when to file