Saudi Gazette report

RIYADH — The Human Resources Development Fund (HADAF) has extended its support to those who hold certificates of the Saudi Organization for Certified Public Accountants (SOCPA) to practice as VAT (value-added tax) specialists and accounting technicians.

Under the support scheme, HADAF will extend financial support to those who have obtained these two certificates in its bid to raise the efficiency of Saudi holders of these certificates and increase their competitiveness in the labor market.

The mechanism of payment from HADAF is based on the principle of compensation for the individual who obtained the certificate according to the costs specified on the Taqat.sa website.

A claim for the compensation has to be submitted on the site along with a copy of the certificate, and then the validity of the certificate will be verified, and the costs for obtaining it will be transferred directly to the applicant’s account through the IBAN number submitted on the registration page.

Meanwhile, Dr. Ahmed Al-Maghamis, secretary-general of the Saudi Organization for Certified Public Accountants (SOCPA), thanked the HADAF administration for the great efforts in supporting young Saudis to obtain professional certificates in specialties of high importance.

He said that choosing the professional certificates issued by SOCPA as among the professional certificates program launched by HADAF shows the keenness and appreciation being accorded to the Kingdom’s economic sector by the relevant bodies. “The HADAF initiative would help holders of these certificates to assume leadership positions in the accounting and financial fields,” he said.

Al-Maghamis noted that this choice shows HADAF’s keenness to stimulate qualified Saudis so as to meet the needs of the labor market and the needs of the accounting and auditing profession. “This reward will increase the number of applicants who opt for SOCPA’s tests to become specialists in the field of accounting and auditing,” he added.