2023-10-24 08:31:34
In accordance with the resolutions of the meeting of the 53rd session of the Council of Ministers of OHADA held on December 21 and 22, 2022 in Niamey and which unanimously adopted the States present and voting, the Uniform Act relating to the Accounting System of Non-profit entities, religious denominations, non-governmental or non-profit organizations must, from January 1, 2024, keep accounts.
Bidossessi WANOU
As agreed during the 53rd session of the OHADA Council of Ministers, all non-profit entities, including churches, mosques, NGOs, are now required to have accounts from January 1, 2024. According to the OHADA, this text, which complements the Uniform Act relating to accounting law and financial information (AUDCIF), will significantly improve the quality of information produced within the OHADA area. Indeed, all entities producing market or non-market goods and services fall within the scope of the Uniform Act relating to Accounting Law and Financial Information in its article 2, to the extent that they exercise , for profit or not, economic activities as the main or ancillary activities which are based on repetitive acts, with the exception of those subject to the rules of public accounting. Clearly, all non-profit entities like others (banks, insurance companies, mutual social insurance companies, etc.) must have their own accounting system, underlines OHADA which adds that the harmonization of accounting practices non-profit entities require the establishment of an accounting system that allows their activities to be translated according to appropriate accounting rules. However, the following are excluded from the scope of application of the OHADA Accounting System (SYSCOHADA) according to Article 5 of the uniform act: credit institutions, microfinance institutions, financial market players, insurance and financial services companies. reinsurance, security and social welfare organizations and non-profit entities. To the new legal body which establishes this reform, an accounting system is annexed to which all non-profit entities having their headquarters in the territory of an OHADA member state or carrying out their activities there are subject, unless the said entities do not are subject to the public accounting system, a special regime or specific national provisions. The financial information organization system it establishes provides, alongside the normal system, a minimal cash flow system for use by small entities.
QA October 24,
#Churches #Mosques #NGOs #subject #accounting