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OEC Morocco

Member | Established: 1993 | Member since 2004

Ordre des Experts-Comptables du Royaume de Maroc (OEC-Morocco) Moroccan Law 15-89 1993 enacted by Dahir 1-92-139 of 14 Rejab 1413 established the OEC-Morocco. Membership of the institute is comprised of Chartered Accountants and mandatory to practice accounting or auditing. Under Law 15-89, the institute is responsible for: (i) maintaining a public registry for members; (ii) establishing continuing professional development requirements for members; (iii) establishing auditing standards; (iv) establishing ethical requirements; (v) establishing and conducting audit quality assurance reviews; (vi) investigating and disciplining its members for misconduct and breach of professional rules. In addition to being a member of IFAC, OEC-Morocco is also a member of the Pan African Federation of Accountants, the Federation of Mediterranean Certified Accountants, and the International Federation of Francophone Accountants.

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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.

Last updated: 05/2024
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SMO Action Plan

Status of Fulfillment by SMO

  • SMO 1: Quality Assurance

    OEC-Morocco has direct responsibility for establishing a quality assurance (QA) review system, and since 2012, has operated a system that it reports is in line with the main SMO 1 requirements. However, as of the date of this assessment, OEC Morocco reports that ISQM 1 & 2 are not fully adopted in the jurisdiction, and implementation is expected to be completed by 2026.

    OEC-Morocco organized a virtual training in 2021 to prepare auditors in the jurisdiction for the implementation of the quality management standards that became effective in 2022. It has also undertaken a first review of the QA procedures and supporting manuals to address the quality management standards. OEC-Morocco is supporting member firms to adopt systems of quality management and integrate a quality management approach to their operations and strategy.

    OEC-Morocco indicated that it is closely following IAASB developments and publication of implementation support materials, and has publicized the changes via e-newsletters to members. Between January – December 2024, OEC Morocco will be conducting trainings using IAASB and IFAC implementation materials. OEC-Morocco also updated its educational programming to ensure that its members are sufficiently prepared for the application of the standards by 2026 in Morocco.

    The new suite of Quality Management standards became effective in 2022 which requires significant change management for regulators and firms. OEC Morocco is encouraged to continue raising awareness of the changes from quality control standards to quality management standards and continue to ensure that its members are sufficiently prepared for the application of the standards by 2026.

    Current Status: Review & Improve

  • SMO 2: International Education Standards

    While initial professional development (IPD) requirements are set by law, OEC-Morocco is responsible for enforcing the IPD requirements and setting and monitoring members’ compliance with continuous professional development (CPD) requirements. The institute reports both IPD and CPD requirements are overall aligned with 2019 revised IES requirements and that it continuously reviews the IES requirements to ensure that OEC-Morocco’s education and training are aligned.

    To this effect, OEC-Morocco has strengthened its Training Center and provides an annual calendar of CPD events to its members. The institute raises awareness of the CPD requirements and the upcoming events by publishing them on its website. OEC-Morocco also monitors compliance by annually collecting forms that state members’ training attendance. In cases of non-compliance, OEC-Morocco implements sanctions.

    Current Status: Sustain

  • SMO 3: International Standards on Auditing

    The Ordre des Experts-Comptables du Royaume de Maroc (OEC-Morocco) is responsible for establishing auditing standards to be applied in all mandatory audits in Morocco under Moroccan Law 15-89 1993 enacted by Dahir 1-92-139 of 14 Rejab 1413. OEC-Morocco has adopted Moroccan Standards on Auditing which are converged with the 2016-2017 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements.

    As part of the convergence process, the institute has a formal agreement with Fédération Internationale des Experts Comptables et Commissaires aux Comptes Francophones (the International Federation of Francophone Accountants) to have regular access to translated IAASB pronouncements and other papers to update the Moroccan Standards on Auditing and established an International Standard-setting Committee to monitor and review developments to the translated standards. The 2022 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements, Volume I and II is the latest version available in French as of the date of this assessment which OEC Morocco reports to distribute to its members.

    Additionally, OEC-Morocco disseminates Exposure Drafts of the Moroccan Standards on Auditing to obtain comments from members to assess their impact on implementation. To further assist members with implementation, OEC-Morocco informs members about the activities of the International Standard-setting Committee and IAASB pronouncements monthly. The institute also hosts continuing professional development events and training programs on ISA and ensures that ISA is included in its initial professional development program.

    Efforts to adopt ISA are strongly encouraged as part of enhancing the quality and uniformity of global practice and strengthening public confidence in the global auditing and assurance profession. Therefore, OEC Morocco is encouraged to adopt the latest ISA standards since the 2016-2017 Handbook is outdated. Of note, the 2022 IAASB Handbook has been issued and contains revisions such as ISA 540, ISA 315, the quality management standards, and ISA 600 (revised).

    Current Status: Execute

  • SMO 4: Code of Ethics for Professional Accountants

    Ordre des Experts-Comptables du Royaume de Maroc (OEC-Morocco) is responsible for adopting ethical requirements in accordance with Law 15-89 1993 enacted by by Dahir 1-92-139 of 14 Rejab 1413.

    OEC-Morocco reports that it has adopted its own Code of Ethics that is based on the 2009 IESBA Code of Ethics. As of the date of this assessment, it remains unclear whether OEC Morocco has established plans to review the 2023 IESBA Code of Ethics Handbook with a view of identifying and closing the gaps between its Rules and the International Code issued by IESBA.

    Nevertheless, the institute has updated its continuing professional development and training programs to include the Code of Ethics and has provided French translations of the Code to its members. Additionally, it reviews the Code of Ethics with its members at its Annual General Meeting.

    The institute also participates in the standard-setting process by submitting comments to Exposure Drafts published by the IESBA.

    It is in the public interest that all professional accountants adhere to the latest ethical requirements issued by the IESBA. There have been significant revisions to the ethical requirements issued by IESBA since 2009. As part of fulfilling the obligations under SMO 4, OEC Morocco should indicate plans to review and adopt more recent requirements since the 2023 Handbook is currently in effect (and the 2022 Handbook is available in French). OEC Morocco should provide more concrete, detailed information and a timeline about its plan to eliminate differences between its own Code and the International Code of Ethics and/or consider the full adoption of the International Code of Ethics for all professional accountants.

    Current Status: Plan

  • SMO 5: International Public Sector Accounting Standards

    OEC-Morocco has no direct responsibility for the adoption of public sector standards; however, it states that it supports the adoption of IPSAS for Moroccan public sector entities. OEC-Morocco has three representatives (out of seven) within the Conseil National de la Comptabilité (CNC)—the body responsible for adopting standards for the public sector—and participates in activities carried out by the CNC. The institute also reports that it monitors the activities of IPSASB to follow developments to the standards. While there seems to be a lack of developments and plans to progress the adoption IPSAS at the government level (the CNC did approve the General Treasury of Morocco’s State Chart of Accountants aligned with accrual-basis IPSAS issued in December 2008), OEC-Morocco indicated that it continues to advocate for the adoption of IPSAS through various meetings with the CNC.

    OEC-Morocco’s membership includes accountants that provide services in the public sector. Accordingly, OEC-Morocco reports that its continuing professional development (CPD) programs, as well as other training and educational activities, include IPSAS-related materials. To increase awareness amongst its members, OEC-Morocco reports to monitor international developments in the area and disseminates the French version of the IPSASB Handbook to its members and shares announcements via its website and e-newsletter.

    Current Status: Sustain

  • SMO 6: Investigation and Discipline

    In accordance with Law 15-89, the Ordre des Experts-Comptables du Royaume de Maroc (OEC-Morocco) has direct responsibility for the investigation and discipline (I&D) of all practicing professional accountants in the jurisdiction. OEC-Morocco indicates that the system is operational and cases are processed accordingly. Over the past five years, OEC-Morocco reports to have processed 27 complaints. In 2021, OEC-Morocco conducted a self-assessment of its I&D system against SMO 6 requirements and reports that its revised procedures are partially aligned with gaps pertaining to the disciplinary process, appeals process, and public interest considerations.

    OEC Morocco continues to raise the Regional Council’s awareness of SMO 6 requirements to encourage alignment with the requirements. However, as of the date of this assessment, it remains unclear whether plans have been established to address the remaining gaps that were identified in the self-assessment in 2021. Progress in this area appears to have stalled.

    I&D procedures that meet the SMO 6 benchmark are foundational to maintaining public trust and confidence in the profession. It is strongly recommended that OEC Morocco invest time and resources in strengthening its procedures to align with SMO 6 requirements. OEC Morocco is encouraged to connect with other PAOs in the region that have overcome similar obstacles to learn from them. At a minimum, OEC Morocco should establish specific plans with a timeline to address the gaps and explain how it is planning to address the needed improvements in this area where it is legally capable.

    Current Status: Plan

  • SMO 7: International Financial Reporting Standards

    OEC-Morocco has no direct responsibility for the adoption of corporate reporting standards but is actively involved in promoting the adoption and implementation of IFRS and IFRS for SME in the jurisdiction. The CNC has adopted Moroccan Generally Accepted Accounting Principles (GAAP) which differ significantly from IFRS. However, OEC-Morocco reports that the World Bank initiated an IFRS Conversion Project in 2020 with CNC and Phase 1-Diagnosis has been completed. Phase 2 was initiated in July 2021, and OEC Morocco reports that it is expecting Moroccan GAAP to mostly converge with IFRS and IFRS for SME once the project is complete.

    The institute has three representatives on a committee within the Conseil National de la Comptabilité (CNC) responsible for drafting a law on new national accounting standards and four representatives on a committee within the CNC that is responsible for the convergence process. With its representatives on these committees, OEC-Morocco has worked to raise awareness on the importance of converging the Moroccan Generally Accepted Accounting Principles with IFRS to the CNC and the Moroccan Capital Market Authority (AMMC).

    Additionally, the institute encourages the CNC to submit comments on Exposure Drafts on the IFRS for SME.

    To keep its members informed on IFRS developments, the institute provides updates through IPD and CPD trainings.

    Recognizing that adoption of IFRS is not within the direct responsibilities of OEC-Morocco, the institute is encouraged to continue promoting adoption of new and revised IFRSs as they become effective. The association is also encouraged to ensure that its programming is continuously updated to include new and revised standards.

    Current Status: Sustain


IFAC bears no responsibility for the information provided in the SMO Action Plans prepared by IFAC member organizations. Please see our full Disclaimer for additional information.


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