Chad flag Chad: Business Environment

Accounting and accounting rules in Chad

Accounting Rules

Tax Year
The tax year is the calendar year.
Accounting Standards
IFRS Standards are required for all listed companies and companies making a public call for capital. Companies with more than 100 shareholders are required to use IFRS Standards, even if their securities do not trade in a public market (according to OHADA's Uniform Act Relating to Commercial Companies and the Economic Interest Group). Chad does not apply IFRS for SMEs standards.
Accounting Regulation Bodies
Organisation for the Harmonisation of Business Law in Africa (OHADA)
Accounting Reports
According to art. 8 of the Accounting Act of the Organisation for the Harmonization of Corporate Law in Africa (OHADA), companies must publish a balance sheet, a profit and loss account, a statement of cash flows and notes to the financial statements. All listed companies and companies making a public call for capital must use IFRS standards for their financial statements.
Publication Requirements
Annual financial statements include the Balance Sheet, the Income Statement, and Cash Flows statement, as well as the Notes to the financial statements. According to art. 23 of the OHADA's Uniform Act on the organization and harmonization of corporate accounting, annual financial statements shall be adopted no later than within four months following the closing of the fiscal year.
Professional Accountancy Bodies
Ordre National des Professionnels Comptables du Tchad (ONPCT)
Certification and Auditing
According to art. 8 of the Uniform Act on Commercial Companies of the Organisation for the Harmonization of Corporate Law in Africa (OHADA), private limited companies that meet, at the end of the fiscal year, two of following conditions are required to appoint at least one auditor: the total amount of the balance sheet is greater than XAF 125 million; the annual turnover is greater than XAF 250 million; the number of permanent staff exceeds fifty people. For private limited companies that do not meet these criteria, the appointment of an auditor is optional. Nevertheless, such an appointment maybe requested in court by one or more members holding at least one-tenth of the stated capital.
In public limited companies, supervision is exercised by one or more auditors.
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Latest Update: April 2024