Regulatory Alerts2014-01-01
Circular No. 5 of 2014
The Authority mandates that all supervised companies submit their financial statements to the Instruments and Financial Reports Sector at its headquarters, effective for fiscal periods ending on or after March 31, 2014. To streamline submissions and prevent late-filing penalties, companies must designate authorized representatives via a legal power of attorney, which may list multiple employees. These standardized procedures unify submission protocols and ensure timely receipt of financial reports by the competent authority.
Chairman of the Board
Circular Letter
No. (5) for the Year 2014 dated 2014/5/13
Regarding the controls and procedures for submitting financial
statements by companies subject to the Authority's supervision
In an effort by the Authority to unify and simplify the procedures for submitting financial statements to the competent authority within the prescribed deadlines, as well as to receive those statements from authorized company representatives so that such companies do not incur late submission fines and other issues, companies must submit their financial statements to the Instruments and Financial Reports Sector at the Authority's headquarters, 20 Imad El-Din Street, pursuant to a power of attorney issued by the company's legal representative. This power of attorney may include more than one employee's name to facilitate the process.
These requirements apply to financial statements for the financial period ending on
2014/3/31 and thereafter.
Chairman of the Authority
Sherif Samy
Fax: (202) 25345333
Tel: (202) 25370040
info@efsa.gov.eg
www.efsa.gov.eg
Email:
Website:
Smart Village, Building 15 - 84 B
Km 28, Cairo-Alexandria Desert Road
Giza Governorate, Postal Code: 12577