Regulatory Alerts2019-01-01
Resolution of the Board of Directors No. 115 of 2019
The Financial Regulatory Authority of Egypt amends Resolution No. 161 of 2014 to update registration, continuation, and deletion criteria for auditors of licensed microfinance companies, associations, and non-profit institutions. The amendment empowers the Quality Control Unit for Auditors' Work to propose administrative measures against auditors who violate professional performance, conduct, or banking audit standards, or who fail to meet registration requirements. Additionally, it mandates that the General Administration of Accountants and Auditors at the Ministry of Finance be formally notified of any violations committed by auditors listed in the register.
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