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Economic & Sector Work :: Accounting and Auditing Assessment (ROSC)

Egypt, Arab Republic : Accounting and Auditing

ACCOUNTABILITY ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING RECORDS ACCOUNTING STANDARDS ACCOUNTING TREATMENT ARRANGEMENT AUDITED FINANCIAL STATEMENTS AUDITING AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BALANCE-SHEET BANK EXAMINERS BANKING LAW BANKING SUPERVISION BANKS BOARD OF DIRECTORS CAPITAL MARKET CAPITAL MARKET AUTHORITY CAPITAL MARKET LAW CAPITALIZATION CENTRAL BANK CENTRAL BANK ISSUES CENTRAL BANK OF EGYPT CLASSIFICATION COMPANY LAW CONFLICTS OF INTEREST CONSOLIDATED FINANCIAL STATEMENTS CORPORATE GOVERNANCE CORPORATE INFORMATION CURRENT ASSETS DEGREE OF COMPLIANCE DISCLOSURE DISCLOSURE REQUIREMENTS DRAFT LAW DUE DILIGENCE EARNINGS PER SHARE ECONOMIC MANAGEMENT ECONOMIC REFORM EFFECTIVE REGULATORY FRAMEWORK EMPLOYMENT ENFORCEMENT MECHANISMS EXTERNAL AUDITORS EXTERNAL AUDITS FILING FINANCIAL CONDITIONS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL REPORTING FOREIGN TRADE INSTITUTIONAL FRAMEWORK INSURANCE INTANGIBLE ASSETS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL STANDARDS INVENTORY JOINT STOCK JOINT STOCK COMPANIES LAWS LEGAL PROVISIONS LEGAL REQUIREMENTS LEGAL RESPONSIBILITY LENDING INSTITUTIONS LOAN LOSS PROVISIONS MANDATES MARKET CAPITALIZATION MARKET ECONOMY MARKET VALUE NATIONAL ECONOMY NATIONALIZATION OPERATING COSTS OPERATING LEASES OWNERSHIP INTEREST PENALTIES PRIVATE SECTOR PRUDENTIAL REGULATIONS PUBLIC PUBLIC INTEREST PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING REGULATORY BODIES REGULATORY BODY REGULATORY FRAMEWORK REGULATORY MECHANISMS REGULATORY REGIME SHAREHOLDERS STAKEHOLDERS STOCK EXCHANGE STRUCTURAL ADJUSTMENT SUBSIDIARIES TAX TAX LAW USERS WORKING CAPITAL
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Washington, DC
Middle East and North Africa | Egypt, Arab Republic of
2013-08-12T15:21:19Z | 2013-08-12T15:21:19Z | 2002-08-15

During the past decade, Egypt made significant efforts to align corporate financial reporting requirements with the International Accounting Standards (IAS) and to close the compliance gap in both accounting and auditing practices. Consequently, important improvements have been achieved in accounting and disclosure requirements for the publicly traded companies and financial institutions and in Egyptian Accounting Standards as benchmarked against IAS. Moreover, a new Accounting Practice Law has been drafted and agreed upon by all stakeholders, though not yet been ratified. Further improvements could be achieved by issuing a modern legislative framework that includes an appropriate regulatory framework for practicing auditors, addressing weaknesses in professional education and training arrangements, introducing qualification examinations for auditor licensing, and developing an enforcement mechanism to ensure compliance with applicable accounting and auditing standards.

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