The development of accounting regulation in the GCC

Purpose - To create an all‐round picture of the accounting and auditing requirements in Gulf Cooperation Council (GCC) countries. Design/methodology/approach - Presents a range of related articles on the commercial laws of each state, and the announcements and publications of the Saudi Organisation for Certified Public Accountants (SOCPA), which aim at providing a general background about the development of accounting in GCC countries. Findings - The related issues in financial and accounting reporting in GCC countries are incorporated in the auditing profession through the codes of commercial law. Research limitations/implications - The methods of collecting information were restricted to accounting laws and source documents. Interviews would have been useful in bringing to the surface the function of accounting in GCC countries, given that they are based on interactions. Practical implications - The paper recognises the effect of the interest groups in the regulation of accounting in GCC countries and that accounting is a social and a political phenomenon. Originality/value - The paper provides convenient comparisons about accounting and auditing between GGC countries.