{"id":627414,"date":"2018-07-31T03:49:10","date_gmt":"2018-07-31T03:49:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/31\/cbe-requires-banks-to-conduct-an-external-quality-assurance-audit-at-least-once-every-five-years\/"},"modified":"2018-07-31T03:49:10","modified_gmt":"2018-07-31T03:49:10","slug":"cbe-requires-banks-to-conduct-an-external-quality-assurance-audit-at-least-once-every-five-years","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/31\/cbe-requires-banks-to-conduct-an-external-quality-assurance-audit-at-least-once-every-five-years\/","title":{"rendered":"CBE requires banks to conduct an external quality assurance audit at least once every five years"},"content":{"rendered":"

The central bank issued a directive to banks on Sunday requiring them to conduct an external quality assurance audit by an independent auditor at least once every five years to ensure the bank\u2019s compliance with the Institute of Internal Auditor\u2019s International Professional Practices Framework (IPPF). The audit will also look into internal corporate governance mechanisms and the efficacy of the bank\u2019s in-house auditing procedures, according to the directive<\/a>. Banks must inform the CBE of their selected auditor before the audit is conducted and submit its findings to the CBE. Banks must inform the CBE on their plans to conduct the audit by 31 October.<\/p>\n","protected":false},"excerpt":{"rendered":"

The central bank issued a directive to banks on Sunday requiring them to conduct an external quality assurance audit by an independent auditor at least once every five years to ensure the bank\u2019s compliance with the Institute of Internal Auditor\u2019s International Professional Practices Framework (IPPF). The audit will also look into internal corporate governance mechanisms […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9298],"tags":[2372,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627414","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"1c19d778-c3f1-4b29-9b1d-3329c74a0007","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","full_issue_title":"CBE requires banks to conduct an external quality assurance audit at least once every five years","related_issue":[627382],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.9177ac45-fb34-4ebd-8889-ae40461cce6a.mp3"},"yoast_head":"\nCBE requires banks to conduct an external quality assurance audit at least once every five years - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/31\/cbe-requires-banks-to-conduct-an-external-quality-assurance-audit-at-least-once-every-five-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBE requires banks to conduct an external quality assurance audit at least once every five years\" \/>\n<meta property=\"og:description\" content=\"The central bank issued a directive to banks on Sunday requiring them to conduct an external quality assurance audit by an independent auditor at least once every five years to ensure the bank\u2019s compliance with the Institute of Internal Auditor\u2019s International Professional Practices Framework (IPPF). 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The CBE said banks have six months from the date\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":635055,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe\/","url_meta":{"origin":627414,"position":3},"title":"Banks to begin reporting financials under IFRS 9 starting from 2019 -CBE","author":"enterpriseam admin","date":"31 January 2018","format":false,"excerpt":"Banks in Egypt will be requiredto begin presenting their financial statements in accordance with the IFRS 9 accounting standards starting from FY 2019, the central bank announced. 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