The OHADA Accounting Standards Setting Commission (CNC-OHADA) Meets in Kinshasa

• 26/04/2016
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Kinshasa, the capital city of the Democratic Republic of Congo is hosting the plenary meeting of the OHADA Accounting Standards Setting Commission (CNC-OHADA) from 25 to 29 April 2016.

Established by Regulation N°002/2009/CM/OHADA of May 22, 2009, the CNC-OHADA is a technical body mandated to support the Permanent Secretariat in the conduct of the harmonization process in the field of accounting. As such, the CNC-OHADA assists the Permanent Secretariat in the development, interpretation, harmonization and updating of accounting standards in OHADA Member Countries. It also coordinates and synthesizes the theoretical and methodological research on standardization and implementation of accounting rules.

During the Kinshasa meeting, the CNC-OHADA will elect its new bureau members for a term of three years and analyze the report on the situation assessment of National Accounting Councils (CNCs), in view of the creation and operationalization of CNCs in all OHADA Member States. The examination and approval of the draft revised Uniform Act on the organization and harmonization of business accounting also holds a prominent place in their agenda.

Organized with the financial assistance of the World Bank Group and opened by H.E. Pierre MABIALA, Chairperson of the Council of Ministers of OHADA, the Kinshasa meeting witnessed the effective presence of the Minister of Justice, Keeper of the Seals and Human Rights, the Minister of Finance of the Democratic Republic of Congo and the Permanent Secretary of OHADA. There were 80 participants including: Statutory members of CNC-OHADA, governing bodies of professional accounting associations, representatives of international institutions (World Bank, Bank of Central African States, Central Bank of West African States , Central Bank of Congo, Central Bank of Guinea, Banking Commission of Central Africa, Inter-African Conference on Insurance Markets and Central African stock market) as well as resource persons with technical expertise in the areas of accounting theory and practice.

The Kinshasa meeting marks a decisive step in the review process of the Uniform Act of 24 March 2000 on the organization and harmonization of business accounting. The political phase may be activated thereafter.

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