RIYADH — Saudi Organization for Certified Public Accountants (SOCPA) signed a MOU with KPMG Al Fozan & Partners, a leading provider of Audit, Tax, and Advisory services in Saudi Arabia, to train, qualify and employ Saudi graduates with a major in Accounting and Auditing.

The MOU was signed by the Secretary General of SOCPA Dr. Ahmed Al-Maghames, and the Chairman of KPMG in Saudi Arabia Dr. Abdullah Al-Fozan during the Saudi Accountants Forum in Riyadh, under the auspices of the Minister of Commerce and Investment Dr. Majed Al-Qasaby.

As part of the memorandum, KPMG will conduct intensive training courses for university graduates with a Bachelor’s degree in Accountancy to train and qualify them in the fields of Accounting and Auditing. The training aims to foster professional, technical and cognitive training of the graduates in the field of financial department’s governance in the public sector.

Commenting on the collaboration, Dr. Ahmed Al-Maghames said: “This MOU expresses our joint belief in the responsibility to further develop the accounting and auditing sector and achieve the highest levels in professional, technical and ethical standards.

This, however, can only be achieved through training and qualifying human cadres, familiarizing them with the best accounting practices and the required expertise in the financial sector. This MOU promotes the contribution of the accounting and audit sector in driving the economic development of Saudi Arabia.”

He also expressed SOCPA’s keenness to cooperate with accounting firms such as KPMG because of their professional expertise to guarantee the highest level of training provided to fresh graduates.

KPMG will train and employ about 250 trainees annually in its offices in Riyadh, Jeddah and Al Khobar.

Dr. Abdullah Al-Fozan commented: “The signing of the MOU is to supplement the efforts exerted by KPMG in Saudi Arabia to develop the human capital in accounting and auditing sector. The MOU complements the role we shoulder at KPMG to train Saudi youths, males and females, while also contributing to the development and growth process in this sector.”

KPMG will carry out a comprehensive program that incorporates specialized training courses for Saudi university graduates in the accounting departments to enable them join consultancy and auditing firms, he concluded. — SG