Adopted by the Council of Ministers on 8 June 2017 in Conakry (Guinea), the Regulation to Harmonize the Practices of Accounting and Auditing Professionals in OHADA Member States is now available online and can be freely downloaded.

This Regulation, which shall enter into force on January 1st, 2018, harmonizes the standards, the code of ethics of accounting and auditing professionals and the quality assurance system in OHADA States Parties. It also fills a gap by providing a legal basis for the services of auditors.

Without affecting the organization or functioning of professional accounting bodies, which are also responsible for ensuring the implementation of professional standards and quality control, the Regulation of 8 June 2017 seeks to guarantee a high standard and quality of services of accounting and auditing professionals throughout the OHADA space. Thus, it will not only contribute to guaranteeing the services of a high quality and compatible with internationally recognized standards, but also to increase transparency in the management of entities and the reliability of financial information produced in the OHADA space. In this respect, the new instrument is a useful addition to the Uniform Act of 26 January 2017 on Accounting Law and Financial Reporting, which is expected to enter into force on January 1st, 2018 for entities' personal accounts, and January 1st, 2019 for consolidated financial statements, combined accounts and financial statements prepared in accordance with IFRS.

Download the Regulation

The Permanent Secretary
Professor Dorothé C. SOSSA
www.ohada.org