Regulatory Alerts2019-01-01
Decision No. 84 of 2019 Reorganizing Registration, Continuation of Registration, and Removal Conditions for the Register of Accountants with the Authority
The General Authority for Financial Supervision issued Decision No. 84 of 2019 to exclusively authorize registered accountants to audit Egyptian-listed companies, public offering entities, and licensed non-Egyptian financial institutions. The decision establishes strict registration and renewal criteria, including five years of relevant experience, professional certifications, documented quality control systems, and clean disciplinary records, while mandating annual data updates and strict compliance with Egyptian auditing standards. It further empowers the Authority's Quality Control Unit to investigate professional violations, impose escalating sanctions ranging from formal warnings to permanent deregistration, and repeals prior registration regulations to consolidate regulatory oversight.