Mandatory insurance for auditors from professional liability errors

The Ministry of Economy issued a mandatory decision requiring auditors who have been accepted to be registered in the “Account Recording” records, an insurance policy against professional errors.

The Ministry’s Resolution No. 111 of 2022, regarding the controls of insurance against liability for professional errors, stipulates that the insurance policy is issued in the name of the auditor from legal persons through whom the auditor of natural persons carries out his business, and that the auditor of natural persons practicing the profession is committed when renewing his registration By submitting a letter from the offices, companies and branches of foreign companies, stating that he works for them and is still on the job.