Regulatory Alerts2024-05-27
Added · Updated
Conditions and rules for registering and delisting accounting offices and auditors from the Central Bank’s register
The Central Bank of Egypt establishes conditions and rules for the registration and delisting of accounting offices and auditors in its register. Accounting offices must be corporate entities with auditors holding specific qualifications, while individual auditors must be Egyptian nationals with relevant degrees and experience. Registration fees are set at 50,000 EGP for offices and 10,000 EGP for auditors, with renewal every five years. Auditors of banks must have at least five years of experience and complete specialized training. The Central Bank may issue warnings, suspend registration for one to three years, or delete entities from the register for violations, including conflicts of interest, failure to disclose events, or criminal convictions.
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