1. Mohamed Yehia

2. Contents Introduction. ESAA. ESAA Membership. What ESAA offers? ESAA CPD system. ESAA plans. Conclusion. 1

3. Introduction A high quality finance reporting 2 A High Quality Financial Reporting A Reliable Accountant Financial Managerial Professional

4. Introduction Cont. IFAC Code of Ethics Professional competence may be divided into two separate phases. (a)Attainment of professional competence ; and (b)Maintenance of professional competence. 3

5. Introduction Cont. Principle Telling = Learning Telling & Showing = Learning Telling, Showing & Involving = Learning 4 × ×

6. Introduction Cont. Supply & Demand in Egypt Education Market SupplyDemand Thousands of graduates in accounting Shortage in good accountants GAP 5

7. Training with Accounting Firms (A) 3 years (trainee) (B) 5 years (limited) (B) after 8 years (full) ESAA Immediately after membership ExceptionException Introduction Cont. Qualification in Egypt 6

8. CBE CMA Insurance Real estate mortgage Special Registers First Prerequisite Is membership of ESAA 7

9. Egyptian Society of Accountants and Auditors (ESAA) Established 1946 – Royal Decree. Now 1800 members. Training contract with ESAA’s member. Open now for non members approved firms. 8

10. ESAA Philosophy We at ESAA Believe in & Insist on Professional Training ESAA Cont. 9

11. Professional Training 3 years ESAA Membership Training contract Min. 1 ½ year Interim Min. 1 ½ year Final Membership University degree in Accounting Ph.D. in Accounting CA, ACCA or CPA +2 EXAMS IN Egyptian laws & taxation Professional Training 3 years 10

12. ESAA Membership Cont. Exams Interim Accounting - Principles Auditing - Principles Taxes – Principles Costing & managerial Accounting Law & Corporate Governance Final Accounting Auditing Taxes Finance Law & General Knowledge 11

13. What ESAA Offers? Before membership - Classroom training for candidates - On job training in member’s firms. - Text Books. After membership - CPD Courses - Workshops 12

14. IFRS Dip Course A joined diploma between ACCA & ESAA. ESAA arrange for the review course for around 14 weeks one day a week. ACCA arrange for the exam, grading and results. A joined certificate is issued. What ESAA Offers Cont. 13

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16. ESAA CPD System DesignUpdateAccredit CirculateRemind Receive summary Follow upReport SelectInform Receive documents ReviewReport BODSanctions Phase I Phase II Phase III Phase IV 15

17. (1)120 hours during three years with a minimum of 25 hours per year (2) Direct education must not be less than 70% and the indirect education must be within 30%. ESAA CPD System Cont. 16

18. Examples of the Direct Professional Education (a) The specialized training courses held by the society and/or accredited entities. (b) Attending conferences, seminars and symposiums that are related to the profession of accounting and auditing. (c)Participating in the technical committees that are related to the profession of accounting and auditing. (d) Preparing researches, lectures, and papers that are related to the profession of accounting and auditing. ESAA CPD System Cont. 17

19. (A) Self-study Distance education courses watching video tapes that are related to the profession participating in computer educational programs. any other form of education that has no interactive communication and does not include evaluation process. (b) General Reading Reading articles that are related to the profession and published in the information sources. The said part must not exceed 50 % of the total indirect professional education. Examples of the Direct Professional Education ESAA CPD System Cont. 18

20. (3) Trainers shall have the number of continuous professional development hours but shall not exceed 50 % of the total continuous professional development. (4) Writers shall have a number of continuous professional development hours but shall not exceed 25 % of the direct education Examples of the Direct Professional Education Cont. ESAA CPD System Cont. 19

21. ESAA Plans ESAA new building 4000 m 2 ESAA Academy 20

22. A Reliable Accountant Academic Education Professional Training Professional Qualifications Practicing CPD Experience Good Judgment Judgment 21