Ceremony Honoring Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority

Ceremony honoring Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, and the signing of a cooperation protocol between the Egyptian Society of Accountants & Auditors and the Financial Regulatory Authority

https://youtu.be/NmCCfvLiWxY

Mr. Hazem Hassan, Chairman of the Board of Directors of the Egyptian Society of Accountants & Auditors, delivered a speech in which he welcomed Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, extending to him sincere thanks and appreciation from the Society's Board of Directors and all its fellows and members for the important and significant role the Authority plays in advancing the accounting and auditing profession in support of the Egyptian national economy.

Mr. Hazem Hassan also praised the major and effective role played by Dr. Mohamed Farid in chairing the Standing Committee for Egyptian Accounting Standards and the Egyptian Standards on Auditing, Limited Review, and other assurance engagements, which works continuously to develop and update the Egyptian accounting and auditing standards within the framework of seeking alignment with international standards.

He also affirmed that the Society's vision is fully aligned with the Authority on the importance of maximizing the role of continuing professional training and education, which represents the important and essential pillar for confronting the increasing and ongoing challenges in the field of accounting and auditing. Through its training center and its advanced capabilities, the Society provides specialized professional training programs to train all practitioners of the accounting and auditing profession on all developments and updates in the profession at the hands of a large elite of the most competent trainers with professional and academic experience, affirming the Society's aspiration for close cooperation and coordination with the Authority in preparing and implementing the programs and training courses that achieve the advancement of the accounting and auditing profession in Egypt.

Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, also delivered a speech in which he extended thanks and appreciation to Mr. Hazem Hassan, Chairman of the Board of Directors of the Egyptian Society of Accountants & Auditors, and all the fellows and members of the Egyptian Society of Accountants & Auditors for organizing this ceremony, noting the long heritage of the Egyptian Society of Accountants & Auditors as one of the oldest professional societies in Egypt, having been established by royal decree in 1946, with the aim of promoting the accounting and auditing profession and developing the skills and knowledge of accountants and auditors in Egypt.

He also expressed his deep appreciation for the pioneering role played by the Society under the leadership of Mr. Hazem Hassan, Chairman of the Society, describing him as a great figure of stature and the doyen of the accounting and auditing profession in Egypt, considering that this honor is, first and foremost, for Mr. Hazem Hassan, who has provided and continues to provide a great deal to the accounting and auditing profession, whether through Hazem Hassan Accounting and Auditing Firm or through his wise leadership of the Egyptian Society of Accountants & Auditors.

Dr. Mohamed Farid, Chairman of the Authority, also pointed out that the field of accounting and auditing in Egypt currently faces major challenges, perhaps the most important of which is updating the accounting and auditing standards to align with international standards, valuing in this context the important and effective participation of the representatives of the Egyptian Society of Accountants & Auditors in the Authority's Standing Committee for Standards in preparing and drafting the Egyptian accounting and auditing standards.

The ceremony included an open dialogue moderated by Dr. Farid Fawzy Lewendy, Board Member of the Society and Chairman of the Society's Cultural Activities Committee, during which a number of questions were posed to the attendees relating to the accounting and auditing profession in Egypt and the developments it is witnessing in accounting and auditing standards. These questions were answered by Mr. Hazem Hassan, Chairman of the Society, and Dr. Mohamed Farid, Chairman of the Authority.

The honoring ceremony also witnessed the signing of a memorandum of understanding between the Financial Regulatory Authority and the Egyptian Society of Accountants & Auditors aimed at enhancing cooperation in the fields of exchanging expertise, information, and training. The memorandum also aims to achieve joint cooperation between the Authority and the Society in the fields of the Egyptian accounting and auditing standards and their related consultations.