Regulatory Alerts2004-01-01
Ministerial Decree No. 146 of 2004 Amending Certain Provisions of the Executive Regulations of the Capital Market Law
The Egyptian Ministry of Foreign Trade issued Ministerial Decree No. 146 of 2004 to amend the executive regulations of the Capital Market Law by formally incorporating Egyptian Accounting Standard No. 24 on Professional Conduct and Independence. The decree mandates that audit and assurance firms, along with their local and global teams, maintain both independence in fact and independence in appearance when providing assurance services to clients, particularly listed entities. It establishes a comprehensive framework requiring professionals to identify, assess, and mitigate threats to independence through appropriate safeguards, ensuring objectivity and public trust in financial reporting.
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