BCEAO Instruction 014-12-2015 on Annual Account Reporting by Credit Information Bureaux

The Governor of the Central Bank of West African States (BCEAO), Having regard to the Treaty of the West African Monetary Union (UMOA) of 20 January 2007, particularly Article 34 thereof; Having regard to the Statutes of the Central Bank of West African States (BCEAO), annexed to the UMOA Treaty of 20 January 2007, particularly Articles 30 and 59 thereof; Having regard to the Uniform Act regulating Credit Information Bureaux in the Member States of the UMOA, particularly Articles 23, 64 and 69 thereof, HAS DECIDED

Article 1: Subject Matter
This Instruction sets out the procedures for submitting to the BCEAO the annual accounts of Credit Information Bureaux. The annual accounts referred to in the first paragraph are the financial statements, namely:
– the balance sheet;
– the income statement;
– the cash flow statement together with the annexed schedule.

Article 2: Submission Deadline
The annual accounts of Credit Information Bureaux are finalized, no later than four months following the end of the financial year, namely 30 April. The annual accounts, finalized in accordance with the first paragraph of this Article, are submitted to the BCEAO before 30 June of the year in which they are finalized. The finalization date of the annual accounts is specified upon submission.

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INSTRUCTION NO. 014-12-2015 SETTING OUT THE PROCEDURES FOR SUBMITTING ANNUAL ACCOUNTS OF CREDIT INFORMATION BUREAUX TO THE CENTRAL BANK OF WEST AFRICAN STATES

The Governor

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Article 3: Conditions for Submission of Annual Accounts
The annual accounts to be submitted are presented in accordance with the models provided by the West African Accounting System (SYSCOA). Credit Information Bureaux submit to the BCEAO the accounts referred to in Article 1 above, in three copies on paper medium. A copy of these accounts is also submitted to the BCEAO electronically in a flexible format, notably Word, OpenOffice or Excel. Credit Information Bureaux permanently keep available to the Central Bank the supporting documents for the accounting information contained in the submitted annual accounts.

Article 4: Compliance with Rules and Sanctions
Failure to comply with the rules set out in this Instruction is subject to sanctions, in accordance with the provisions of the Uniform Act regulating Credit Information Bureaux in the Member States of the UMOA.

Article 5: Entry into Force
This Instruction enters into force on the date of its signature.
It shall be published wherever necessary.
Done in Dakar, 30 December 2015
Tiémoko Meyliet KONE