Frameworks & standards
Accounting frameworks, the same rigour.
From Revised SYSCOHADA to IFRS, from the banking chart of accounts to the CIMA Code: we prepare, convert and audit your accounts in the framework required by your legal status, your supervisory authority, your shareholders or your donors. Our audits follow ISA or PCAOB standards; our internal control work follows the COSO framework and the Sarbanes-Oxley Act. We also support NGOs, development projects and public-sector entities with donor reporting under INPAS, IPSAS or GASB standards, according to the applicable framework and financing agreements.
Statutory accounts
Revised SYSCOHADA
Revised OHADA accounting system
Companies in the 17 OHADA member states
This is the general framework for companies in Burkina Faso and throughout the OHADA zone. It governs bookkeeping and the presentation of annual financial statements.
What we do
- Bookkeeping, review and closing of accounts.
- Annual financial statements and tax return package.
- Consolidated and combined accounts.
- Statutory and contractual audit.
- Training of accounting teams.
SYCEBNL
OHADA accounting system for non-profit entities
NGOs, associations, foundations and development projects
SYCEBNL gives non-profit organisations and development projects an accounting framework of their own, suited to tracking the funding received and how it is used. It replaces the varied practices that prevailed until then.
What we do
- Diagnosis and SYCEBNL transition plan.
- Chart of accounts, software configuration and procedures.
- Annual financial statements of the entity and of its projects.
- Tracking of restricted funding, by donor and by project.
- Audit of accounts and staff training.
WAMU PCB
Revised Banking Chart of Accounts of the West African Monetary Union
Banks and financial institutions in the WAMU
Credit institutions are not subject to SYSCOHADA. In Burkina Faso, as in the seven other WAMU states, banks and financial institutions of a banking nature keep their accounts under the West African banking chart of accounts, issued by the BCEAO.
What we do
- Audit and review of financial statements prepared under the revised PCB.
- Support for closing the accounts and for the regulatory returns sent to the BCEAO and the Banking Commission.
- Review of non-performing exposures and their impairment.
- Restatements between the revised PCB and IFRS for the reporting of banking groups.
- Training of accounting and finance teams.
SFD framework
Specific accounting framework for decentralised financial systems (SFD) in the WAMU
Microfinance and mesofinance institutions in the WAMU
Microfinance institutions, which the BCEAO texts call “decentralised financial systems” (SFD), are not subject to SYSCOHADA: mutuals, cooperatives and companies keep their accounts under a framework of their own. Mesofinance institutions, which finance SMEs, apply it when they are licensed as microfinance institutions.
What we do
- Audit and review of financial statements prepared under the SFD framework.
- Support for closing the accounts and for the regulatory returns sent to the supervisory authorities.
- Review of the loan portfolio, of non-performing loans and of their provisions.
- Assessment of internal control in local units, branches and network head offices.
- Training of accounting and finance teams.
CIMA Code
Insurance chart of accounts of the CIMA Code
Insurance and reinsurance companies in the CIMA zone
Insurance and reinsurance companies are not subject to SYSCOHADA. Their accounting follows the chart of accounts of the CIMA Code, built around premiums, claims, technical provisions and the investments that cover them.
What we do
- Audit and review of financial statements prepared under the CIMA Code.
- Support for closing the accounts and for the regulatory statements.
- Review of technical provisions, regulated commitments and the assets that cover them.
- Restatements between the CIMA chart of accounts and IFRS, including IFRS 17, for group reporting.
- Training of accounting and finance teams.
International reporting
IFRS
International Financial Reporting Standards
Groups, listed companies and international reporting
IFRS is the accounting language of financial markets and international groups. The Burkinabè subsidiaries of these groups produce IFRS reporting packages alongside their statutory accounts.
What we do
- IFRS reporting and consolidation packages.
- Restatements between Revised SYSCOHADA and IFRS.
- First-time adoption and choice of accounting policies.
- Technical topics: leases, revenue recognition, financial instruments, mining assets, restoration provisions.
- Audit of packages under the group auditor’s instructions.
US GAAP
Generally accepted accounting principles in the United States
Subsidiaries of US groups and reporting to the United States
US GAAP applies to entities that report to a US parent. Its rules differ from IFRS and SYSCOHADA on structural points: the differences must be identified, quantified and documented.
What we do
- US GAAP reporting packages.
- Restatements from Revised SYSCOHADA and reconciliation of differences.
- Documentation of accounting positions.
- Support for group auditors.
- SOX testing and work under PCAOB standards, for groups listed in the United States.
French PCG
Plan comptable général (French GAAP)
Subsidiaries and branches of French groups
The plan comptable général is the framework for annual accounts in France. Entities in Burkina Faso that report to a French parent use it for their reporting, alongside their statutory accounts under Revised SYSCOHADA.
What we do
- Reporting packages under the French PCG.
- Restatements between Revised SYSCOHADA and the PCG, with a documented bridge.
- Mapping of charts of accounts and software set-up.
- Support for the group’s statutory auditors.
INPAS
International Non-Profit Accounting Standard
NGOs and non-profit organisations
A standalone international accrual-based framework for non-profit organisations, addressing grants, restricted and unrestricted funds, and narrative reporting. Its use depends on organisational and donor requirements; it does not replace local obligations, including SYCEBNL in the OHADA area.
What we do
- Assess the applicable framework and map accounts.
- Prepare financial statements and reporting notes.
- Review adjustments and document transitions between frameworks.
IPSAS
International Public Sector Accounting Standards
Governments and other public-sector entities
IPSAS address public-sector financial reporting internationally. The applicable framework depends on adoption by the jurisdiction and on entity or partner requirements. Accrual-based standards and the cash-basis standard provide distinct frameworks.
What we do
- Assess the applicable framework and map accounts.
- Prepare financial statements and reporting notes.
- Review adjustments and document transitions between frameworks.
GASB
Governmental Accounting Standards Board standards
U.S. state and local governments
Governmental Accounting Standards Board standards establish U.S. generally accepted accounting principles for state and local governments. They address this specific U.S. framework; relevance depends on the entity and reporting requirements.
What we do
- Assess the applicable framework and map accounts.
- Prepare financial statements and reporting notes.
- Review adjustments and document transitions between frameworks.
Accounting frameworks at a glance
| Framework | Standard setter | For whom | What we do |
|---|---|---|---|
| Revised SYSCOHADA | OHADA | Companies in the OHADA zone | Bookkeeping, financial statements, consolidation, statutory and contractual audit |
| SYCEBNL | OHADA | NGOs, associations, foundations, development projects | Transition, financial statements, audit, training |
| WAMU PCB | BCEAO | Banks and financial institutions of a banking nature | Audit, closing of accounts, regulatory returns, IFRS restatements |
| SFD framework | BCEAO | Microfinance and mesofinance institutions | Audit, closing of accounts, portfolio review, training |
| CIMA Code | CIMA | Insurance and reinsurance companies | Audit, closing of accounts, regulatory statements, IFRS 17 restatements |
| IFRS | IASB | Listed companies, subsidiaries of international groups | Reporting packages, restatements, audit of packages |
| US GAAP | FASB | Subsidiaries of US groups | Reporting packages, restatements, support for group auditors |
| French PCG | ANC | Subsidiaries and branches of French groups | Reporting packages, restatements, mapping of charts of accounts |
| INPAS | INPRF | NGOs and non-profit organisations | Assess the applicable framework and map accounts. |
| IPSAS | IPSASB | Governments and other public-sector entities | Assess the applicable framework and map accounts. |
| GASB | GASB | U.S. state and local governments | Assess the applicable framework and map accounts. |
One set of books, several readings.
The same entity may have to produce three sets of accounts: for the authorities, for its group and for its donors. We organise the accounting so that each is produced from a single base, with a documented reconciliation.
Audit & internal control
Audit, internal control and prudential compliance
ISA and PCAOB standards govern audits; COSO and the Sarbanes-Oxley Act guide internal control work. For banking institutions within scope, Basel III adds expertise in risks, capital and prudential reporting under its local implementation.
ISA
International Standards on Auditing
All our audit engagements
Our audits are conducted under International Standards on Auditing (ISA), and under each donor’s own terms of reference for funded projects.
What we do
- Risk-based planning and materiality thresholds.
- Assessment of the audited entity’s internal control.
- Documentation of the work and independent review before the report is issued.
- Reports that follow the formats set by the standards and by donors.
PCAOB
Auditing standards for US-listed companies
Audit work for groups listed in the United States
The accounts of groups listed in the United States are audited under PCAOB standards rather than ISA. When the group auditor assigns us work on a subsidiary in Burkina Faso, we carry it out under those standards and in line with the group auditor’s instructions.
What we do
- Audit work on subsidiaries, under the group auditor’s instructions.
- Testing of internal control over financial reporting.
- Work documented to the level PCAOB standards require.
- US GAAP packages and reconciliation with the Revised SYSCOHADA accounts.
COSO
Internal Control — Integrated Framework
Assessing and structuring internal control
COSO is the most widely used internal control framework. We use it in our own procedures: to assess internal control during our audits, to evaluate our clients’ systems and to build their procedures manuals.
The five components of internal control
- Control environmentIntegrity, governance, organisation and competence.
- Risk assessmentObjectives, risks, fraud and change.
- Control activitiesControls, information systems and procedures.
- Information and communicationReliable information, shared with those who need it.
- Monitoring activitiesOngoing evaluations and correction of deficiencies.
What we do
- Assessment of the internal control system against the five components.
- Risk map and control matrix.
- Procedures manuals built on the framework.
- Continuous monitoring: the “monitoring” component put into practice.
SOX
Sarbanes-Oxley Act
Internal control of groups listed in the United States
The Sarbanes-Oxley Act requires companies listed in the United States to document, test and certify their internal control over financial reporting. Their subsidiaries in Burkina Faso fall within that scope when they are significant to the group: we document their controls, test them and follow up the correction of the weaknesses found.
What we do
- Documentation of processes and key controls: narratives and risk and control matrices.
- Tests of the design and operating effectiveness of controls, on behalf of management.
- Evaluation of deficiencies and follow-up of remediation plans.
- IT general controls and segregation of duties.
Basel III
International banking prudential framework
Banking institutions within the applicable prudential regulatory scope
Basel III strengthens banks through capital, risk management, liquidity and leverage requirements, together with prudential disclosures. It is a prudential framework, distinct from accounting frameworks and auditing standards. In the West African Monetary Union (WAMU/UMOA), our work follows the local prudential framework implementing Basel II and III for credit institutions and financial holding companies, supervised by the BCEAO and the Banking Commission. Scope, implementation and thresholds depend on the local rules in force; the framework does not automatically apply to all microfinance institutions or insurers.
WAMU prudential framework — BCEAO ↗
The three prudential pillars
- Pillar 1Minimum capital requirements and risk measurement.
- Pillar 2Internal capital adequacy assessment, governance and supervisory review.
- Pillar 3Market discipline and prudential disclosure transparency.
What we do
- Review of risk data, ratio calculations and their controls.
- Reconciliation of prudential reporting with accounting and management systems.
- Assessment of liquidity and leverage controls under applicable requirements.
- Review of the internal capital adequacy assessment process (ICAAP/PIEAFP), governance and stress testing.
- Review of prudential disclosures and monitoring of remediation plans.
Let’s talk about your priorities.
An audit, an inventory, a recruitment or a digitalisation project: we start by understanding what you need.
Quartier Bilbalogho, Secteur 01, Ouagadougou, Burkina Faso