Dr. Hani Sarei El Din, CMA Chairman, issued a decision regarding the code of ethics of accountants and auditors registered at the CMA as well as individuals and institutions addressed by the decision no. 140 of 2007
This code of conduct is considered an implementation to the code of ethics issued by the International Accountants Union carried out as of June 30th 2006.
It is divided into two parts; the first is the general implementation stating the main principles of ethics that should be found in any accountant, which are honesty, integrity and objectivity, as well as the professional efficiency, prudence and secrecy. It presents a framework for the implementation of these principles through guidelines.
As for the second part it is for the professional practicing accountant; expressing how to implement such framework in specific situations, giving examples of suitable protection methods against threats and examples of situations where no such methods are provided to overcome such threats
The second part includes the following chapters: professional employment, conflict of interests, need for a second opinion, fees and other types of returns, marketing professional services, gifts and hospitality, possession of clients’ assets, objectivity, all services, independence, procedures of ascertaining
This decision has been consistent to international best practices and standards; ensuring that an accountant responsibility is not merely responding to the client’s will but exceeds it to achieve the general benefit.

These regulations come within the CMA’s efforts and its strategic plan to enforce financial disclosure and protect shareholders’ rights through improving the role of auditors, implementing auditing standards and complying with the best accounting standards.