Regulatory Alerts2016-11-15
Decision No. 357-11-2016 Instituting the Revised UMOA Banking Accounting Plan
The Governor of the Central Bank of West African States (BCEAO) has instituted the Revised UMOA Banking Accounting Plan (PCB), mandating that all credit institutions organize and maintain their accounting in compliance with the plan and its implementing directives starting from the 2018 financial year. The decision further requires these institutions to prepare semi-annual financial statements alongside annual reports and applies general accounting provisions wherever they do not conflict with the PCB. This regulation repeals prior contrary frameworks, including the 1994 UMOA Banking Accounting Plan, and officially enters into force on 1 January 2018.
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