Regulatory Alerts2024-03-04 | CBE4.6Added · Updated
CBE Regulation Book 4.6 - Guiding Controls For Auditors 6
The Central Bank of Egypt mandates that banks verify the independence, qualifications, and experience of external auditors appointed by clients seeking credit facilities. Specific requirements include a minimum of five years of audit experience, adherence to international ethical codes, and a cooling-off period of three years for former employees of the bank. Banks must ensure auditors are registered with the Egyptian Organization for Accountants and Auditors and comply with these controls by June 30, 2005.
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