Regulatory Alerts2016-11-15
Annex to Decision No 357-11-2016 Establishing the UMOA Revised Banking Accounting Plan
Issued by the UMOA monetary and banking authorities, this Annex to Decision No 357-11-2016 establishes the Revised UMOA Banking Accounting Plan (PCB) to standardize financial reporting for banks and regulated financial institutions. It defines the conceptual framework, fundamental accounting principles (including going concern, accrual basis, prudence, and materiality), and detailed valuation rules for assets, liabilities, equity, revenues, and expenses. The regulation mandates specific presentation formats, off-balance sheet commitment reporting, and a structured chart of accounts to ensure transparent, comparable, and decision-useful financial information for regulators, investors, depositors, and the public.
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