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FRA approves condensed financial statements

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Dr. Mohammed Omran- FRA’s Chairman approves condensed financial statements prepared in accordance with FRA’s BOD decision no. (55) of 2018 regarding the controls and means of publishing for companies offering its securities in the IPO or companies which have listed securities in the Egyptian Exchange . The third item of Article 1 stipulates that the mentioned companies shall publish a summary of the annual financial statements, clarifications thereto and auditor’s report thereon in one of the widely circulated daily Egyptian newspapers published in Arabic according to the form prepared by the Authority for this purpose.
The summarized financial data shall include a minimum of:

(A) Quick overview of the company’s financial status.
(B) Income statement summary
(C) Summary of Comprehensive Income Statement
(D) A summary list showing changes in equity.
(E) Cash flow summary.
(F) The most important clarifications.

And attached to them:
First: The auditor’s report on condensed financial statements.
Second: Summary of directors’ report.
Review the condensed financial statements issued by the Authority through the following link:

http://www.fra.gov.eg/jtags/efsa_en/cma_forms_02.jsp

It should be noted that Article 6 of the Capital Market Law promulgated by Law no. 95 of 1992 stipulates “the company shall publish condensed financial statements, clarifications thereto and the auditor’s report in means of publication pursuant to the rules and regulations set by FRA’s Board of Directors.”

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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