**”Updating Egyptian Accounting Standards to Provide a Conducive Environment for Economic Growth and Attracting Investments”**
Dr. Mohamed Farid, Chairman of the Egyptian Financial Supervisory Authority, announced the development of Egyptian accounting standards to align with modern economic changes. The new amendments include re-evaluating assets at market value rather than book value, which helps companies present a more accurate and realistic picture of their financial position. This development aims to create a favorable environment for economic growth and attract investments. Additionally, a new accounting interpretation has been introduced to regulate the accounting treatment of carbon emissions reduction certificates, the first of its kind in Egypt