Authorities in Saudi Arabia are working to provide jobs for more expatriates in the accounting sector. To this end, more universities and more study facilities are being expanded there. This was disclosed by the Secretary General of the Accountants Authority, Dr. Ahmad Almagamis. He was speaking in an interview with Al Iqbariya channel.
Currently, 170,000 accountants are registered with the Saudi Organization for Certified Public Accountants. Only 33 per cent of them are natives. There are 1,40,000 foreign accountants and 30,000 domestic accountants in the market. He added that the strength of the Saudi economy was the reason for the increase in the number of foreign accountants.
At the same time, there was a great need for foreign accountants due to the scarcity of natives who had completed their degree in accountancy in the past. Authorities have come up with new plans to overcome this. Earlier, only seven universities in the country taught accountancy courses. Currently, 27 universities have been upgraded to teach accountancy courses. It will enroll between 6,000 and 7,000 accountancy graduates each year. He added that 450 forged certificates were seized while registering with the Saudi Organization for Certified Public Accountants and handed over to the Public Prosecution for further action.
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