Ordre des Experts-Comptables de Côte d’Ivoire
Member | Established: 1995 | Member since 1997
The Ordre des Experts-Comptables de Côte d’Ivoire (OEC-CI) was originally established in accordance with Decree No. 95-904 of November 3, 1995, as the Ordre des Experts-Comptables et des Comptables Agréés (OECCA-CI). Under Order No. 2009-387 of December 1, 2009, the Order was renamed the Ordre des Experts-Comptables de Côte d’Ivoire. The Order’s membership continues to consist of Chartered Accountants, who must be members of the OEC-CI to practice publicly and conduct audits, and Certified Accountants.
Statements of Membership Obligation (SMO)
The Statements of Membership Obligations form the basis of the IFAC Member Compliance Program. They serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest by adopting, or otherwise incorporating, and supporting implementation of international standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their individual members.
SMO 1: Quality Assurance
The OEC-CI is committed to the development of a system that is in line with the revised SMO 1 requirements and has developed national regulations to provide a national legal framework pending the establishment and implementation of a regional quality assurance (QA) review system. As part of these efforts, the Order gives its members tools and guidance on ISQC 1 implementation as well as on the implementation of the QA system. Pending the Conseil Permanent de la Profession Comptable’s adoption of the QA system, the regional auditing standard setter, OEC-CI, plans on raising awareness of the QA system through workshops and training, providing training of trainers, and developing an outreach strategy. In addition, the Order plans to establish a commission to follow up and monitor the developments of QA activities at the regional level.
The OEC-CI is encouraged to review the revised SMO 1 requirements as it prepares for national QA reviews and to share the requirements with the regional bodies responsible for the QA adoption and implementation. The Order is also encouraged to provide an update on any developments of the QA systems that the Organization for the Harmonization of Business Law in Africa and/or West African Economic and Monetary Union are working on. The Order is also encouraged to indicate in its Action Plan if it has adopted ISA 220 Quality Control for an Audit of Financial Statements.
SMO 2: International Education Standards
With initial professional development (IPD) requirements established at the regional level by the West African Economic and Monetary Union (WAEMU), the OEC-CI is focused on strengthening IPD requirements by introducing a final examination on the business regulations of Côte d’Ivoire in the IPD program and raising the government’s awareness about the importance of including this prerequisite. As part of this effort, the OEC-CI has set-up a committee to identify topics that should be included in the examination.
To further comply with IES requirements, the OEC-CI plans on adopting and implementing the education system that is currently being designed by WAEMU and the Conseil Permanent de la Profession Comptable. As of 2016, all WAEMU countries have adopted a draft report outlining the design and implementation of an education system meeting IES requirements.
The OEC-CI is encouraged to review the revised IES requirements and share translations with the bodies involved in the design and implementation of the regional education system. The OEC-CI should include an update on the status of the final assessment on local regulations in its Action Plan. The Order should also consider instituting mandatory continuous professional development obligations for members of the profession and training to enhance compliance with IES.
SMO 3: International Standards on Auditing
The OEC-CI actively promotes the adoption of auditing standards at the regional level and in Côte d’Ivoire. In 2014, due to delays in developing regional auditing standards, the Ministry of Finance approved a Ministerial Order, submitted by the OEC-CI, which establishes French translations of Clarified ISA and IAASB pronouncements as national auditing and assurance standards. In 2016, the Order plans to establish a commission to monitor and follow up on the Conseil Permanent de la Profession Comptable’s standard-setting developments.
In addition to promoting the adoption of Clarified ISA, the OEC-CI intends to use IFAC implementation resources to enhance the knowledge and competency of its members. Currently, the OEC-CI encourages members to reference the standards on the websites of CPA Canada and the Instituut van de Bedrijfsrevisoren–Institut des Réviseurs d'Entreprises (the Belgian Institute of Auditors) as they reflect the most up-to-date ISA translations into French. The Order is developing an outreach strategy and training for members on the implementation of the auditing standards pending the West African Economic and Monetary Union approval.
The OEC-CI is encouraged to provide an update in its Action Plan on the status of ISA adoption at the regional level. The Order could continue to promote ISA adoption and implementation by disseminating the translation of new and revised IAASB pronouncements.
SMO 4: Code of Ethics for Professional Accountants
Since the Conseil Permanent de la Profession Comptable has not yet established a regional Code of Ethics, in 2014, the OEC-CI proactively submitted a Code of Ethics for government approval. The government approved the Code for use by the Order. The Order remains committed to supporting ongoing regional efforts of convergence with the IESBA Code of Ethics.
As part of supporting the implementation of a Code of Ethics, the Order intends to form a committee to monitor the activities of regional standard setters. Additionally, the Order plans to develop and implement an outreach strategy to train members once the Code is adopted at the regional level.
To support its members in the implementation of the adopted Code, the Order shared French translations of the IESBA Code of Ethics with its members. The OEC-CI encourages members to reference the IESBA Code of Ethics available on the websites of CPA Canada and the Instituut van de Bedrijfsrevisoren–Institut des Réviseurs d'Entreprises (the Belgian Institute of Auditors) as they reflect the most up-to-date translations of the Code into French. The Order also organizes ongoing learning events to raise member awareness of the requirements and to assist members with compliance.
The Order is encouraged to indicate in its Action Plan if there are dissemination mechanisms in place to share with members the French translations of the updates to the Code of Ethics issued by the IESBA.
SMO 5: International Public Sector Accounting Standards
The OEC-CI has no direct responsibility for the adoption of public sector accounting standards but indicates that it is active in promoting the adoption of IPSAS. It established a working group with the Conseil National de la Comptabilitié-Cote d’Ivoire (CNC-CI) representatives to study adoption and implementation of the standards in Côte d’Ivoire, and completed an analysis and comparison of current public sector accounting standards and IPSAS. Furthermore, it states in its 2016 SMO Action Plan that it is in the process of comparing public sector accounting standards adopted by the West African Economic and Monetary Union with IPSAS and will subsequently make recommendations on reforming the regional public sector accounting framework.
To support its members, the OEC-CI has trained trainers on IPSAS and developed tools with the help of a consultant. Subsequently, the OEC-CI organized learning events led by the trainers to raise awareness of the standards.
The Order is encouraged to provide an update in its Action Plan on national and/or regional plans to adopt IPSAS. The OEC-CI could also consider collaborating with the CNC-CI to share updated French translations of IPSAS with stakeholders and members.
SMO 6: Investigation and Discipline
The OEC-CI, which shares responsibility for the investigative and disciplinary (I&D) system, states in its 2016 SMO Action Plan that it is planning to conduct a review of the Ivorian I&D system against the revised SMO 6 requirements. Upon completion of its review in 2016, the Order intends to submit general information on SMO 6 requirements along with a plan to align the existing national I&D requirements with the SMO 6 requirements to the National Commission of Discipline and the Supreme Court.
Additionally, once the review is complete, the OEC-CI will develop a strategy to promote SMO 6 requirements to the public and to disseminate information kits on the I&D system.
The OEC-CI is encouraged to include in its Action Plans steps to address gaps in the national I&D system based on its comparison of the system with the revised SMO 6 requirements.
SMO 7: International Financial Reporting Standards
The OEC-CI has no direct responsibility for the adoption of accounting standards, but it actively promotes and participates in the processes to converge regional standards with IFRS. It is involved in regional discussions to benchmark local accounting standards against IFRS and to revise them to incorporate IFRS requirements. In collaboration with regional standard setters, the OEC-CI prepared draft versions of the new West African Economic and Monetary Union Le Système Comptable Ouest Africain (SYSCOA) standards and is preparing a third version for July 2017. As part of a national committee established by the Conseil National de la Comptabilitié (CNC), the Order also supports the implementation process by creating implementation guidance, such as transition schedules. The technical tools developed by this committee were published as a reference book entitled SYSCOA Revised: 23 fact sheets for easy application. This book will be a point of reference for the new Organization for the Harmonization of Business Law in Africa (OHADA) Accounting Law being developed. The Order has been involved in the CNC committee that is working to modernize the OHADA Accounting Law.
At the national level, the Order works independently and together with the national standard setter, the Conseil National de la Comptabilitié-Cote d’Ivoire (CNC-CI), to offer training to members and students of the profession. The OEC-CI also participates in seminars and workshops with the CNC to advance the adoption and implementation of IFRS in Côte d’Ivoire.
The OEC-CI is encouraged to consider collaborating with the CNC-CI on disseminating new and revised standards issued by the IASB to raise awareness of IFRS and IFRS for SMEs in the jurisdiction. In addition, the OEC-CI may consider promoting the inclusion of IFRS to those bodies involved in education programs for the profession.
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