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Accounting and accounting rules in Senegal

Accounting Rules

Tax Year
The fiscal year begins on January 1st and ends on December 31st of the same year.
Accounting Standards
A new Common General Accountancy Plan, named as the West African Accounting System was put in place in the Western African Union since 1st January 1998. For more information, consult the website Invest in Senegal. The main objective: establishing uniform accounting practices in the Union so as to have homogeneous data.
Accounting Regulation Bodies
Association of Accountancy Bodies of West Africa (ABWA)
Accounting Reports
A balance sheet, a profit and loss account, and the annexes. For more information visit the website of the West African Economic and Monetary Union (West African Economic and Monetary Union (UEMOA)).
Publication Requirements
At the end of each accounting year, companies have to produce summary tables and financials which include:
- Statement of financial analysis.
- Statement of patrimonial accounts balance
- Balance sheet, profit and loss account
- Funds statement and evolution of the working capital
- Identification form of the company
- off-balance sheet commitments (contingent liabilities)
- Statistical annexes
These various tables and documents are presented on normalized printed forms, called CUCI states (Single Centre for the Collection of Information).
Professional Accountancy Bodies
ONECCA (in French) , National Order of Certified Public Accountants and Chartered Accountants of Senegal.
Certification and Auditing
The financial statements of companies must be audited by a qualified auditor member of the ONECCA.
You can consult an external auditor: Ernst&Young, Deloitte, PricewaterhouseCoopers.
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Latest Update: May 2024