Decision No. 22 of 2009 Regarding the Registry of Auditors Registered with the General Authority for Financial Supervision

Egyptian Gazette - Issue No. 214 on September 13, 2009

General Authority for Financial Supervision
Decision No. 22 of 2009
Dated 1/9/2009

Regarding the Registry of Auditors Registered with the General Authority for Financial Supervision Chairman of the Board of Directors of the General Authority for Financial Supervision

Having reviewed the Law on Joint Stock Companies, Commandite Companies by Shares, and Limited Liability Companies issued by Law No. 159 of 1981 and its executive regulations:
And the Law on Supervision and Oversight of Insurance issued by Law No. 10 of 1981 and its executive regulations:
And the Capital Market Law issued by Law No. 95 of 1992 and its executive regulations:
And the Real Estate Registration Law issued by Law No. 148 of 2001 and its executive regulations:
And the Law Regulating Oversight of Non-Banking Financial Markets and Instruments issued by Law No. 10 of 2009:
And Decision No. 8 of 2009 of the Board of Directors of the General Authority for the Capital Market regarding the determination of fees for registration services in the Registry of Auditors:
And Decision No. 33 of 2009 of the Board of Directors of the General Authority for the Capital Market regarding the conditions for registration, continued registration, and deregistration in the Registry of Auditors with the Authority:
And the approval of the Board of Directors of the General Authority for Financial Supervision in its meeting No. (2) of 2009 dated 3/8/2009:

---

Chapter

(Article One)
The title "Registry of Auditors Registered with the General Authority for the Capital Market" is hereby amended to read "Registry of Auditors Registered with the General Authority for Financial Supervision", while retaining the existing registration numbers as they are.

(Article Two)
The auditor registration records of both the Egyptian Insurance Regulatory Authority and the General Authority for Real Estate Affairs are hereby abolished. Auditors registered with these bodies (excluding those already registered in the Registry of Auditors with the General Authority for the Capital Market) shall be transferred to the registry referred to in Article One under new registration numbers. Auditors registered in this registry shall only be permitted to provide their services to companies that they were authorized to audit prior to the transfer of their registration.

(Article Three)
The conditions for registration, continued registration, and deregistration in the Registry of Auditors with the General Authority for the Capital Market, issued by Board Decision No. 33 of 2009, shall remain in force under the new title "Conditions for Registration, Continued Registration, and Deregistration in the Registry of Auditors with the General Authority for Financial Supervision". Furthermore, Board Decision No. 8 of 2009 of the General Authority for the Capital Market regarding the determination of fees for registration services in the Registry of Auditors shall remain in force, with the addition of insurance companies, cooperative insurance companies, and real estate registration companies to the list of companies required to pay an annual service fee upon the audit of their accounts.

(Article Four)
This Decision shall be published in the Egyptian Gazette and shall take effect from the day following its publication date.

Chairman of the Board
Dr. Ziad Bahaa Eldin