Burundi

Financial reporting and auditing in Burundi are governed by: (i) the Companies Act No. 01/09 of May 30, 2011; (ii) the revised Accountants Decree (2025); and (iii) related implementing decrees and regulations issued by the Ministry of Finance.

The Companies Act establishes the legal requirements for the preparation and filing of financial statements for entities registered in Burundi, including private companies and state-owned enterprises. The financial reporting year-end is 31 December. Annual financial statements must be prepared in accordance with applicable law and filed no later than 31 March of the following year. Financial statements must be prepared or certified by a professional accountant registered with the Ordre des Professionnels Comptables du Burundi (OPC Burundi).

The revised Accountants Decree provides the legal basis for the recognition and adoption of internationally accepted accounting, auditing, quality management, education, and ethical standards. Under the legal framework, OPC Burundi proposes international standards, which are transmitted through the Ministry of Finance to the Council of Ministers and subsequently adopted through a presidential decree or other applicable legal instrument. Once adopted, OPC Burundi is responsible for issuing implementation guidance, promoting awareness, and supporting application by its members.

Statutory audits are mandatory for public limited companies and state-owned enterprises and are optional for other entities unless otherwise required by specific legislation. Statutory auditors are appointed by the General Assembly of shareholders for a term not exceeding three years. For state-owned enterprises, auditors may also be appointed by the Minister responsible for Finance. The Companies Act defines the responsibilities of statutory auditors.

International standards recognized under the revised decree include the International Standards on Auditing (ISA), International Standards on Quality Management (ISQM 1 and ISQM 2), International Financial Reporting Standards (IFRS), International Education Standards (IES), the International Code of Ethics for Professional Accountants (including International Independence Standards), and International Public Sector Accounting Standards (IPSAS). Audits of government institutions remain under the authority of the Office of the Auditor General.

The accountancy profession in Burundi is regulated by the Ordre des Professionnels Comptables du Burundi (OPC Burundi), established under Decree No. 100/053 of May 11, 2001 and reinforced by the revised Accountants Decree (2025). The 2001 decree established OPC Burundi as the professional accountancy organization responsible for promoting the profession, protecting the interests of members and third parties, and defending professional ethics and independence.

OPC Burundi is recognized by law as the national professional accountancy organization and is responsible for regulating and supervising the practice of accountancy in the jurisdiction. Membership in OPC Burundi is mandatory for individuals wishing to practice as professional accountants or statutory auditors in Burundi. Article 12 of the 2001 decree provides that financial statements submitted to tax authorities must bear the signature of a professional accountant who is a member of OPC Burundi.

Under the revised legal framework, OPC Burundi is authorized to register and license professional accountants and audit firms; maintain the official register of members and firms; monitor compliance with applicable professional, ethical, and technical standards; establish and operate quality assurance mechanisms; conduct investigation and disciplinary proceedings; oversee professional examinations and continuing professional development; and issue guidance supporting implementation of adopted international standards.

The Ministry of Finance retains an oversight role in the adoption of international standards through the formal decree process. Audits of government institutions remain under the authority of the Office of the Auditor General.

OPC Burundi operates through a Governing Council, supported by standing commissions responsible for member registration, quality assurance, discipline, training, accounting and auditing standards, and public interest matters. The Governing Council is composed of representatives from the profession, the Ministry of Finance, the Burundi Revenue Authority, the Chamber of Commerce, and public and private universities.

OPC Burundi also conducts technician-level and professional examinations and has introduced national professional accountancy qualifications. The institute is a member of the Pan African Federation of Accountants and is a co-signatory to the mutual recognition agreement among East African Community professional accountancy organizations.

There is no separate independent public audit oversight authority in Burundi. IFIAR’s membership requirements apply to independent audit regulators with responsibility for recurring audit firm inspections, and Burundi does not appear in IFIAR’s member directory.

Audit oversight is exercised through the Ordre des Professionnels Comptables du Burundi (OPC Burundi), established under Decree No. 100/053 of May 11, 2001, which remains in force according to Burundi’s official legal portal. OPC Burundi is responsible for the regulation, licensing, and supervision of statutory auditors and audit firms.

Under the revised Accountants Decree (2025), OPC Burundi has authority to establish and operate a mandatory quality assurance review system covering statutory auditors and audit firms. The 2026-2027 SMO Action Plan indicates that the system is being operationalized, including through the Quality Assurance Commission, development of procedures, reviewer training, and planned risk-based reviews aligned with International Standard on Quality Management 1 and International Standard on Quality Management 2.

The Ministry of Finance retains an oversight role in the formal adoption of international standards through the decree process but does not conduct routine inspections of audit firms. Audits of government institutions are not subject to OPC Burundi oversight and fall under the authority of the Cour des comptes, which is responsible for examining, judging, and certifying the accounts of public services under Article 183 of the Constitution.

Ordre des Professionnels Comptables du Burundi (OPC Burundi)

OPC Burundi is the legally recognized professional accountancy organization responsible for regulating the accountancy profession in Burundi. OPC Burundi was established under Decree No. 100/053 of May 11, 2001, which remains in force according to Burundi’s official legal portal.

Under its legal mandate, OPC Burundi is responsible for regulating and supervising the practice of accountancy; maintaining the official register of professional accountants and audit firms; licensing qualified individuals and firms to practice; monitoring compliance with applicable professional, ethical, and technical standards; operating quality assurance and investigation and disciplinary mechanisms; overseeing professional education and continuing professional development; and advising public authorities on accounting, auditing, and financial reporting matters.

Membership in OPC Burundi is mandatory for individuals wishing to practice as professional accountants or statutory auditors in Burundi. The updated SMO Action Plan notes that financial statements submitted to the tax authorities must bear the signature of an OPC Burundi member, and that no individual may exercise the functions of a professional accountant unless licensed and in good standing with the institute.

OPC Burundi conducts technician-level and professional examinations and has introduced national professional accountancy qualifications. It also supports public financial management capacity-building and intends to integrate public-sector content into its professional qualifications and continuing professional development programs.

OPC Burundi is a member of the Pan African Federation of Accountants and maintains cooperation with regional professional accountancy organizations, including the Institute of Certified Public Accountants of Kenya and the Institute of Certified Public Accountants of Rwanda. OPC Burundi’s Strategic Plan also identifies its membership in regional and international groupings, including the Pan African Federation of Accountants and the Fédération Internationale des Experts-Comptables et Commissaires aux comptes Francophones.

There are no other professional accountancy organizations in Burundi with statutory authority to regulate or license professional accountants.

The revised Accountants Decree (2025) provides the legal basis for a mandatory quality assurance (QA) review system covering statutory auditors and audit firms and grants the Ordre des Professionnels Comptables du Burundi (OPC Burundi) authority to establish and operate the system. The 2001 decree establishing OPC remains in force, while the 2025 amendment process confirms the government’s objective to strengthen the profession and address gaps in the application of international accounting and auditing standards.

The 2026-2027 SMO Action Plan states that OPC has drafted a QA framework, appointed a Quality Assurance Commission, and plans to finalize QA procedures, train reviewers, and implement risk-based reviews from 2026 to 2028. The framework is intended to align with SMO 1 requirements, including coverage of audit firms and practitioners, defined scope, frequency, methodology, reviewer qualifications, reporting, and follow-up procedures.

However, the QA review system is still being operationalized and is not yet fully operational for all mandatory audits, and therefore is assessed as Partially Adopted.

International Standard on Quality Management (ISQM) 1 and International Standard on Quality Management (ISQM) 2, issued by the International Auditing and Assurance Standards Board in December 2020 and effective from December 15, 2022, are referenced in OPC’s Action Plan as the basis for the QA framework;

Current Status: Partially Adopted

The revised Accountants Decree (2025) recognizes the International Education Standards (IES) issued by IFAC and provides the Ordre des Professionnels Comptables du Burundi (OPC Burundi) with authority over professional accountancy education, qualification, practical experience, professional assessment, and continuing professional development.

The 2026-2027 SMO Action Plan indicates that OPC Burundi has introduced national Certified Accounting Technician and Certified Professional Accountant qualification programs and is responsible for professional examinations, continuing professional development, and ongoing enhancement of its education framework. Planned initiatives include strengthening practical experience requirements, modernizing the qualification syllabus, expanding public sector content, and enhancing continuing professional development monitoring in line with international best practices.

Based on available information, the jurisdiction-level framework is aligned with the Revised 2019 International Education Standards (IES 1-8).

Current Status: Adopted

In accordance with the revised Accountants Decree of 2025, responsibility for the adoption of International Standards on Auditing (ISA) is shared between the Ordre des Professionnels Comptables du Burundi (OPC Burundi) and the Ministry of Finance through the formal decree process. OPC Burundi proposes international auditing standards, which are transmitted through the Ministry of Finance for legal adoption.

The 2026-2027 SMO Action Plan includes measures to establish a process for monitoring and implementing new International Auditing and Assurance Standards Board (IAASB) pronouncements as they are issued and to integrate ISA compliance into the planned quality assurance review system.

Based on available information, ISA are required for application in all mandatory statutory audits in Burundi. However, the jurisdiction has not demonstrated that the latest IAASB Handbook in effect at the time of the assessment has been formally adopted. Accordingly, ISA are assessed as Partially Adopted.

Current Status: Partially Adopted

In accordance with the revised Accountants Decree of 2025, responsibility for the adoption of the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants (IESBA) is shared between the Ordre des Professionnels Comptables du Burundi (OPC Burundi) and the Ministry of Finance through the formal decree process. OPC Burundi proposes the Code, which is transmitted through the Ministry of Finance for legal adoption.

The 2026-2027 SMO Action Plan indicates that the revised Accountants Decree formally incorporates the IESBA Code into Burundi's legal framework.

Based on available information, the International Code of Ethics for Professional Accountants (including International Independence Standards), as issued by the IESBA, is required to be applied by professional accountants in Burundi and therefore is assessed as Adopted.

Current Status: Adopted

The Government of Burundi, through the Ministry of Finance, has responsibility for the adoption of International Public Sector Accounting Standards (IPSAS) issued by the International Public Sector Accounting Standards Board (IPSASB). The revised Accountants Decree of 2025 recognizes IPSAS within the national professional framework, while implementation responsibility rests primarily with the Government.

The updated SMO Action Plan indicates that OPC Burundi supports IPSAS implementation through professional education, technical guidance, and collaboration with the Ministry of Finance.

According to the IFAC/CIPFA Public Sector Financial Accountability Index, Burundi has not adopted full accrual-basis IPSAS for application by all public sector entities.

Current Status: Partially Adopted

The revised Accountants Decree (2025) establishes the authority of the Ordre des Professionnels Comptables du Burundi (OPC Burundi) to operate an investigation and disciplinary (I&D) system applicable to professional accountants under its regulatory authority.

The updated SMO Action Plan indicates that OPC Burundi has established disciplinary authority and created a Disciplinary Commission. However, it also notes that operational effectiveness requires further strengthening, including adoption of detailed investigation and hearing procedures, enhanced independence of disciplinary panels, linkage of quality assurance findings to disciplinary processes, and implementation of electronic case management and tracking.

Based on available information, an I&D system has been legally established and is operational within the jurisdiction, but the updated Action Plan does not demonstrate full alignment with all SMO 6 requirements and therefore assessed as Partially Adopted.

Current Status: Partially Adopted

According to the revised Accountants Decree of 2025, the Ordre des Professionnels Comptables du Burundi (OPC Burundi), in coordination with the Ministry of Finance, has authority to propose and adopt International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board.

IFRS have been formally adopted through the revised Accountants Decree and are applicable to relevant entities in Burundi.

The IFRS Foundation’s jurisdiction profile database does not currently include a Burundi profile, and no separate public national accounting standards or decree adopting IFRS were identified online. However, based on the revised legal framework and OPC’s SMO Action Plan, IFRS as issued by the International Accounting Standards Board and in effect at the time of assessment are adopted at the jurisdiction level.

IFRS for SMEs have also been formally adopted through the revised Accountants Decree.

Current Status: Adopted

Relevant Organizations

Ordre des Professionnels Comptables du Burundi (OPC Burundi)International Auditing and Assurance Standards Board (IAASB)

International Forum of Independent Audit Regulators (IFIAR)

Relevant Legislation

Decree No. 100/053 of May 11, 2001 establishing the Ordre des Professionnels Comptables du Burundi

Relevant Publications

Burundi Strategic Plan 2022–2026, Ordre des Professionnels Comptables du BurundiWorld Bank – Burundi: AFE Receives a Boost to Continue Strengthening Public Financial Management