“…Egyptian companies need to focus on tools to improve their financial performance to solve the current financial difficulties they face (Mohamed, 2020;Ibrahim, 2017). However, many companies in Egypt are suffering critical financial problems due to the severe inflation, financial and economic circumstances (Mohamed,2020;Ibrahim, 2017). This situation increases the likelihood of risks, errors, fraud, corruption, waste, misuse of firm's assets, meanwhile it decreases the efficiency and effectiveness of their operations, the reliability of financial reporting and the compliance with applicable laws and regulations (Njeri, 2014).…”