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Egypt: insurance sector entities turn to actuaries to implement the new accounting standard

Insurance companies resorted to actuarial experts alongside specialists in information systems in preparation for the mandatory application of the “Egyptian standard 50” for accounting. It is worth noting that the Financial Supervisory Authority has issued a decision in year 2022 to begin the mandatory application of the “accounting standard 50” in the insurance sector, beginning the financial year 2024/2025.

Source: المال