Tunisia

Several pieces of legislation define the corporate financial reporting framework in Tunisia.

Accounting Framework

Law 96-112 on the Enterprise Accounting System outlines the conceptual framework for accounting. It establishes the Conseil National de la Comptabilité (CNC) as an advisory body to the Ministry of Finance, with responsibility for setting accounting standards.

In 2018, the CNC approved a phased plan to adopt IFRS. According to the plan, IFRS would apply to public interest entities, including listed companies, banks, insurance and reinsurance companies, and public offering financial institutions, by January 1, 2021. This timeline was subsequently extended to 2023. CNC has also announced its intent to expand IFRS adoption to all other companies by 2025.

Until full adoption is completed, other entities must apply national standards, known as Tunisian Accounting Standards (TAS), which are not aligned with IFRS. IFRS for SMEs has not yet been adopted in Tunisia as of the date of this assessment.

Auditing Framework

Decree No. 1546-2006 overhauled the auditing practice profession and subsequently, the Law on Commercial Companies was revised to stipulate that statutory audits are required for joint stock companies and limited liability corporations that meet two of the following three criteria: (i) total assets equal to or above 100,000 TND; (ii) total revenues excluding taxes equal to or above TND 300,000; and (iii) average number of employees equal to or above 10. Additionally, non-government organizations that have a budget equal to or above 100,000 TND and all state-owned enterprises are also required to appoint a statutory auditor.

In Tunisia, all statutory audits must be conducted in accordance with ISA as adopted by the Ordre des Experts Comptables de Tunisie (OECT) and approved by the Ministry of Finance under a decree issued in 2003. OECT adopts ISAs as issued by the International Auditing and Assurance Standards Board (IAASB) and translated into French by recognized Francophone professional bodies, primarily the Chartered Professional Accountants of Canada (CPA Canada) or the Belgian institute Institut des Réviseurs d’Entreprises (IBE-IRE). As of the date of this assessment, the French translation of the 2022 IAASB Handbook is applicable in the jurisdiction.

The laws related to the accountancy profession in Tunisia authorize the professional accountancy organizations in the jurisdiction to regulate the profession. The Ordre des Experts Comptables de Tunisie (OECT) was established in 1982 and is currently governed under Law 88-108 on the Chartered Accountancy Profession while the Compagnie des Comptables (CCT) was created in 2002 in accordance with Law 2002-16 on the Accounting Profession. The OECT is responsible for Chartered Accountants, while the CCT is responsible for Professional Accountants (primarily accountants in business). The requirements set by each institute are subject to final approval and oversight by the Ministry of Finance and membership in one of the institutes is mandatory to offer accounting and auditing services in Tunisia.

For individuals to qualify as Professional Accountant, candidates must have a bachelor’s degree, and complete a yearlong internship. Individuals are then eligible for CCT membership and CCT will issue a license to practice. Following the passage of Decree 1546-2006, CCT members may conduct audits for non-public interest entities (PIEs) and limited companies that are under the following thresholds: (i) (i) total assets equal to or above 1,500,000 Tunisian Dinars (TND); (ii) total revenues excluding taxes equal to or above TND 2,000,000; and (iii) average number of employees equal to or above 30.

The CCT is responsible for the following activities in regard to its members: (i) setting continuing professional development (CPD) requirements for its members; (ii) issuing a Code of Professional Duties for its members (iii) investigating and disciplining its members; (iv) licensing its members to practice; (v) ensuring that members of the profession comply with all professional rules and obligations; and (vi) representing and encouraging the development of the accountancy profession in Tunisia. The requirements established by the CCT are subject to final approval from the Ministry of Finance.

For the designation of Chartered Accountant, individuals fulfill the initial professional development (IPD) requirements stipulated in Law 88-108 on the Chartered Accountancy Profession, which are to complete a five year accounting program and pass the national exam organized by the Ministry of Education. Decree 95–2604, as amended in 2015, authorizes the Ministry of Higher Education to organize the examination and certification processes. Universities deliver the required professional accountancy programs and collaborate with the OECT to continue to update and improve the curricula.

Individuals are then required to complete three years of practical experience with at least two years under the supervision of an OECT member. Furthermore, during the practical experience period, candidates are required to complete 40 training hours annually with 20 of those hours at the OECT internal training institute, the Institut de Formation de la Profession Comptable (IFPC). After the internship period, a dissertation must be prepared and defended in a university. Individuals are then eligible to become a OECT member and have the legal authority to conduct statutory audits for PIEs that are defined as: (i) credit institutions; (ii) investment funds; (iii) listed on the Tunisian Stock Exchange; and (iv) an association authorized to grant microcredit, among others; as well as companies that exceed the abovementioned size criteria.

The OECT’s mandate includes: (i) setting auditing standards for the jurisdiction; (ii) setting ethical standards for its members; (iii) overseeing the practical experience component of the IPD requirements; (iv) setting CPD requirements for members; (v) supporting the quality assurance reviews of all statutory audits carried out by the Control Committee; and (vi) investigating and disciplining its members through the Control Committee. The requirements established by OECT are subject to final approval from the Ministry of Finance.

Finally, regulators require that auditors of regulated entities report directly to them on any matter that they become aware of that could threaten the viability of the entity. Law 2016-48 (that replaced Law 2001-65) on Credit Institutions outlines the relationship between bank auditors and the Central Bank and Law 94-117 does the same for auditors of listed entities and the CMF. In addition, the Central Bank of Tunisia has authority to prohibit a statutory auditor form conducting audits of credit institutions temporarily or permanently. Lastly, the Insurance Law requires auditors to report matters that come to their attention during the audit that could threaten the viability of the insurance company to the Ministry of Finance.

There is no independent oversight authority in Tunisia that has been established or operationalized (refer to the section on Projects and Other Initiatives for additional details), and auditors are regulated at the professional level by the Ordre des Experts Comptables de Tunisie (OECT) and the Compagnie des Comptables (CCT).

The OECT was established under Law 88-108 on the Chartered Accountancy Profession while the CCT was created in 2002 in accordance with Law 2002-16 on the Accounting Profession. The OECT is responsible for regulating Chartered Accountants, while the CCT is authorized to regulate its members who are professional accountants. Membership in one of the institutes is mandatory to offer auditing services in Tunisia.

OECT’s Chartered Accountants are the only individuals permitted to conduct statutory audits of public interest entities (PIEs). Following the passage of Decree 1546-2006, Professional Accountants, members of CCT, may conduct audits for non-PIEs and companies that are under the abovementioned thresholds.

The OECT’s mandate includes: (i) setting auditing standards for the jurisdiction; (ii) setting ethical standards for its members; (iii) overseeing the practical experience component of the initial professional development (IPD) requirements; (iv) setting continuing professional development (CPD) requirements for members; (v) supporting the quality assurance reviews of all statutory audits carried out by the Control Committee; and (vi) investigating and disciplining its members through the Control Committee. The requirements established by OECT are subject to final approval from the Ministry of Finance.

The CCT is responsible for the following activities in regards to its members: (i) setting CPD requirements; (ii) issuing a Code of Professional Duties (iii) investigating and disciplining; (iv) licensing its members to practice; (v) ensuring that members of the profession comply with all professional rules and obligations; and (ii) representing and encouraging the development of the accountancy profession in Tunisia. The requirements established by the CCT are subject to final approval from the Ministry of Finance.

Compagnie des Comptables (CCT)

The CCT was established in 2002 in accordance with Law 2002-16 on the Accounting Profession and is subject to the oversight of the Ministry of Finance. Membership of the society is primarily comprised of Professional Accountants who, following the passage of Decree 1546-2006, may conduct audits for non-public interest entities (PIEs) and companies that are under certain size thresholds. The CCT is responsible for: (i) setting continuing professional development (CPD) requirements for its members; (ii) issuing a Code of Professional Duties for its members (iii) investigating and disciplining its members; (iv) licensing its members to practice; (v) ensuring that members of the profession comply with all professional rules and obligations; and (vi) representing and encouraging the development of the accountancy profession in Tunisia. CCT is not a Member of IFAC.

Ordre des Experts Comptables de Tunisie (OECT)

The OECT was established in 1982 and is governed by Law 88-108 on the Chartered Accountancy Profession. OECT is subject to oversight by the Ministry of Finance and its mandate includes: (i) setting auditing standards for the jurisdiction; (ii) setting ethical standards for its members; (iii) overseeing the practical experience component of the initial professional development (IPD) requirements; (iv) setting CPD requirements for members; (v) supporting the quality assurance reviews of all statutory audits carried out by the Control Committee; (vi) investigating and disciplining its members through the Control Committee; and (vii) ensuring appropriate functioning of the accountancy industry. Its membership consists of Chartered Accountants who are the only individuals are permitted to conduct statutory audits for PIEs and companies over a certain size threshold in Tunisia.

OECT is a Member of IFAC and the following regional organizations: the Arab Federation of Accountants and Auditors (AFAA), the Pan African Federation of Accountants (PAFA), the Federation of Mediterranean Accountants (FCM), and the International Federation of Francophone Accountants (FIDEF).

The Ministry of Finance, with an assistance of the World Bank, has commenced a study related to the reform of the audit and accounting profession. The study covers a wide range of topics and may lead to major changes in the quality assurance review system, standard-setting process, continuing professional development, and more.

For example, the Control Committee (responsible for quality assurance reviews) established by Law 88-108 as an independent body and was intended to serve as a public oversight body, subject to supervision by the Ministry of Finance. In practice, the Committee is fully funded by the OECT, 50% of the Committee is comprised of OECT members, it is supported administratively by the OECT Secretariat, and review team members are drawn from the profession. Accordingly, in 2013, the OECT approved new bylaws. The envisioned system would consist of a quality control commission linked to the OECT that only reviews statutory audits; an independent oversight body known as the Institute of Assurance Services Control (IASC), which would have a wider remit and be responsible for reviewing all audit engagements and audits of public interest entities; and lastly, a quality committee within the OECT that would be responsible for supporting OECT members to ensure they are providing high quality services. A draft report containing several recommendations for the plan of the proposed oversight system and QA review system was submitted to the Ministry of Finance. In 2017 OECT issued responses to the recommendations and as of the date of the assessment the draft plan is still under consideration by the new Ministry of Finance as part of the larger project to enhance the Tunisian accountancy profession.

According to Law 88-108 on the Chartered Accountancy Profession, the Control Committee is responsible for the establishment of a quality assurance (QA) review system. The Control Committee, while formally independent from the Ordre des Experts Comptables de Tunisie (OECT), is fully funded by the OECT, 50% of the Control Committee is comprised with OECT members, it is supported administratively by the OECT Secretariat, and review team members are drawn from the profession.

OECT and the Control Committee continue efforts to reform the QA system to align with SMO 1 and create a fully independent public oversight body. The OECT, with the support of the World Bank, developed an action plan in 2015 which remains under discussion with the Ministry of Finance as part of a broader accountancy profession reform project.

The envisioned system comprises a two-tier QA structure:

• An internal Quality Committee within OECT, created in 2019, has launched peer-to-peer campaigns covering audit and anti-money laundering quality reviews. A new round of peer reviews is planned.
• An external and fully independent Institute of Assurance Services Control (IASC) is proposed to review assurance services, staffed by non-practicing Chartered Accountants. This body remains under negotiation with the authorities.

The OECT reports that ISQM 1 and 2 are integrated into the QA review system and that the QA review system operating in the jurisdiction is in line with the requirements of SMO 1.

Current Status: Adopted

In Tunisia, initial professional development (IPD) requirements for Professional and Chartered Accountants are set in law. Universities deliver the academic component of the professional accountancy programs, while the professional accountancy organizations (PAOs) implement additional requirements such as practical experience and continuing professional development (CPD).

Under Law 88-108, the Ordre des Experts Comptables de Tunisie (OECT) oversees Chartered Accountants, while the Compagnie des Comptables (CCT) oversees Professional Accountants. Membership in one of these bodies is mandatory for offering accounting and auditing services in Tunisia. All standards and requirements set by these bodies are subject to approval by the Ministry of Finance.

To qualify as a Chartered Accountant, candidates must complete a five-year academic program (three-year license in addition to a two-year master), pass the national exam (organized by the Ministry of Higher Education), and complete a three-year internship (including two years with an OECT member). During the internship, candidates must complete 40 hours of training annually, with at least 20 hours at the OECT’s internal training institute (IFPC). They are also required to submit semi-annual progress reports and a final dissertation to be defended at a university.

The updated university accounting curriculum, revised in collaboration with OECT and the Ministry of Higher Education, has been in effect since the 2019–2020 academic year and reflects alignment with the 2019 International Education Standards (IES).

The OECT has established an affiliated training entity, AIMCF, which offers certified training, including CPD courses for members and non-members. The CPD framework requires members to complete 120 hours over a three-year cycle, of which at least 60 hours must be verifiable. A monitoring mechanism is in place to ensure compliance, with annual reporting requirements, documentation audits, and graduated non-compliance procedures.

To qualify as a Professional Accountant, candidates must have a bachelor’s degree and complete a one-year internship to obtain CCT membership and licensure.

While some IES requirements appear to be implemented in the jurisdiction, further clarification is needed on the extent of IES alignment for all professional accountants.

Current Status: Partially Adopted

In Tunisia, all statutory audits must be conducted in accordance with ISA as adopted by the Ordre des Experts Comptables de Tunisie (OECT) and approved by the Ministry of Finance under a decree issued in 2003. OECT adopts ISAs as issued by IAASB and translated into French by recognized Francophone professional bodies, primarily the Chartered Professional Accountants of Canada (CPA Canada) or the Belgian institute Institut des Réviseurs d’Entreprises (IBE-IRE).

As of the date of this assessment, the French translation of the 2022 IAASB Handbook is applicable in the jurisdiction.

In May 2024, OECT created a committee to develop a strategy for the adoption of ISSA 5000, with a target adoption date of 2026. Separately, in January 2025, it launched a technical reflection project to issue guidance on ISA 600 (Group Audits) tailored to the Tunisian legal and institutional context.

Current Status: Partially Adopted

The Ordre des Experts Comptables de Tunisie (OECT) is responsible for setting ethical requirements for its members, who are Chartered Accountants, in accordance with Law 88-108 on the Chartered Accountancy Profession. All ethical standards are subject to approval by the Ministry of Finance.

OECT adopts the IESBA Code of Ethics as issued by IESBA and translated into French by recognized Francophone professional bodies, primarily the Chartered Professional Accountants of Canada (CPA Canada) or the Belgian institute Institut des Réviseurs d’Entreprises (IBE-IRE). As of the date of this assessment, the 2022 French translation of the revised IESBA Code is applicable in Tunisia.

The ethical framework in Tunisia also includes national legal provisions that, in some cases, are stricter than the IESBA Code. For instance, the Tunisian Companies Law imposes criminal liability on auditors who fail to disclose known instances of non-compliance with laws and regulations (NOCLAR), thus exceeding the standard IESBA guidance on such matters.

Current Status: Partially Adopted

In Tunisia, the adoption of public sector accounting standards is the responsibility of the Ministry of Finance, as established under the Public Accounting Code Law No. 73-81. The current accounting framework is cash-based, but reforms are underway to move toward accrual-based standards aligned with international best practices.

In 2016, Tunisia established the National Council of Public Sector Accounting Standards (Conseil National des Normes des Comptes Publics (CNNCP)), which is leading the reform effort to develop Tunisian public sector accounting standards based on IPSAS. While full adoption of IPSAS has not yet occurred, the CNNCP has developed a conceptual framework, seven standards related to the state budget, and five standards for local governments which are all broadly based on IPSAS.

Current Status: Not Adopted

In Tunisia, procedures related to the investigation and discipline (I&D) of professional accountants are the responsibility of the professional accountancy organizations, under the oversight of the Ministry of Finance.

For Chartered Accountants, the Ordre des Experts Comptables de Tunisie (OECT) carries out I&D functions through its Control Committee, established by Law 88-108. The Control Committee monitors compliance with professional rules and standards and forwards cases of non-compliance to the Disciplinary Chamber of OECT. The Disciplinary Chamber includes representatives from the Ministry of Finance, Ministry of Justice, and independent professionals not serving on the OECT Board, in an effort to uphold impartiality.

OECT acknowledges that while the current I&D system includes many of the core elements required under Statement of Membership Obligation 6 (SMO 6), several enhancements (such as clearer separation of investigative and disciplinary roles and due process safeguards) require legislative reform. A draft law addressing these gaps was prepared and passed by the OECT General Assembly in 2015 and is still pending approval by the Ministry of Finance.

The Compagnie des Comptables (CCT), under Law 2002-16, is responsible for ensuring that its members–accounting professionals who may act as auditors of non-public interest entities–are complying with all professional standards and obligations; however, it is not clear if it has established and operates its own I&D system that is line with SMO 6 requirements.

Current Status: Partially Adopted

In Tunisia, accounting standards for all entities are issued by the Conseil National de la Comptabilité (CNC), an advisory body to the Ministry of Finance, under Law No. 96-112 on the Enterprise Accounting System. Standards are enacted through Ministerial Orders.

In 2018, the CNC approved a phased plan to adopt IFRS. According to the plan, IFRS would apply to public interest entities, including listed companies, banks, insurance and reinsurance companies, and public offering financial institutions, by January 1, 2021. This timeline was subsequently extended to 2023. CNC has also announced its intent to expand IFRS adoption to all other companies by 2025.

Until full adoption is completed, other entities must apply national standards, known as Tunisian Accounting Standards (TAS), which are not aligned with IFRS.

IFRS for SMEs has not yet been adopted in Tunisia as of the date of this assessment..

Current Status: Partially Adopted

Relevant Organizations

• Compagnie des Comptables de Tunisie (CCT)
• Ordre des Experts Comptables de Tunisie (OECT)

Relevant Legislation

• Law 96-112 on the Enterprise Accounting System
• Law 2001-65 on Credit Institutions
• Law 94-117
• Law 2001-65
• Decree 1546—2006
• Law 88-108 of 1988 on the Chartered Accountancy Profession

Relevant Publications

• Deloitte, “Use of IFRS by jurisdiction”, n.d.
• Deloitte & Touche, “IPSAS in Your Pocket,” 2021.
• OECT, “Plan d’action 2015–2017”, n.d.
• OECT, SMO Action Plan, June 2025.
• Moore Stephens Tunisia, “The Accounting and Auditing Environment”, n.d.
• RSM, Doing Business in Tunisia, 2012.
• World Bank, Report on the Observance of Standards and Codes: Tunisia, May 2004.