In accordance with Article (11) of Law No. 123 of 2008 amending Capital Market Law No. 95 of 1992, FRA shall create a registry for auditors authorized to audit listed companies, public subscription companies, brokerage companies, and investment funds within banks and insurance companies. FRA’s Board of Directors shall determine the criteria for listing and delisting auditors from this registry.
Terms of Reference of Auditors’ Quality Control Unit:
Pursuant to Article (11) of Law No. 123 of 2008, the Board of Directors of the Capital Market Authority (CMA) issued resolution no. (84) of 2008 regarding the establishment of the Auditors’ Quality Control Unit, as amended by resolution no. (50) of 2014 and its amendments.
Objectives of the Auditors’ Quality Control Unit
The Unit shall ensure auditors’ compliance with professional quality standards and relevant rules and regulations. In addition, the Unit shall verify that registered auditors perform their duties according to the Egyptian Auditing Standards and ethical and professional rules.
The role and functions of the Auditors’ Quality Control Unit according to Board of Directors resolution no. (50) of 2014
The Unit shall set the rules for registering auditors at FRA’s registry
The Unit shall propose a system for evaluating the quality of work performed by registered auditors
The Unit shall cooperate with professional organizations
The Unit shall propose memorandums of cooperation with other regulatory bodies to exchange information relevant to audit quality
The Unit has the power to propose disciplinary actions against auditors who violate regulations or fail to meet quality standards.
The Unit shall organize workshops and training courses with local and international organizations.
The Unit shall propose the fee for registering auditors at FRA’s registry.
Resolutions Governing Auditors’ Registration at FRA Registry
FRA Board resolution no. 33/2009 established the initial controls for registering and maintaining auditors at FRA’s registry
FRA Board resolution no. 84/2019 reorganized the existing controls for registration and continued registration of Auditors
Decisions No. (109) and (165) of 2020 amended Decision No. (84) of 2019
Decision No. 3 /2021 reorganized the controls for registration, continued registration, and deletion from FRA’s registry.
بشأن تعديل قرار مجلس إدارة الهيئة رقم ( 161) لسنة 2014 بشأن ضوابط القيد واستمرار القيد والشطب في سجل مراقبي حسابات شركات التمويل متناهي الصغر والجمعيات والمؤسسات الأهلية المرخص لها بمزاولة هذا النشاط لدى الهيئة
بشأن تعديل قرارى مجلس ادارة الهيئة رقمى 161 لسنة 2014 بشأن ضوابط القيد والشطب فى سجل مراقبى حسابات شركات التمويل متناهى الصغر والجمعيات والمؤسسات الأهلية المرخص لها بمزاولة هذا النشاط لدى الهيئة و 84 لسنة 2019 بإعادة تنظيم ضوابط القيد واستمرار القيد والشطب فى سجل مراقبى الحسابات لدى الهيئة
