the empirical findings illustrated that egypt has three different kinds of accounting regulations though similar to the iass. one is issued by the accounting profession, the other by the ecm and a third is issued by the central accounting administration (caa) known as the public auditing organization. it seems that these institutions aim at legitimating their activities and securing their self-regulation positions. in fact, each institution is seeking to have the privilege of undertaking the process of developing the accounting regulations during egypt's transitiomal process. instead of losing self-regulatory power in case it failed to accomplish such process.