Ivory Coast has adopted accrual accounting standard based on International Public Sector Accounting Standards (IPSAS), effective 1 January 2017, The Accountant has learnt.
A directive from the economic and monetary union of west Africa (UEMOA – l'Union économique et Monétaire Ouest Africaine), from 2009, had established that the eight countries of the West African union had to adopt accrual accounting by 2017.
Ivory Coast has now transposed the directive, Bodoa Kaguembega from the Ivorian standard setter (CNCC – Conseil national de la comptabilité) told The Accountant. In the last year a team of four, of which Kaguembega was part, designed standard based on IPSAS but adapted to the local reality.
The standards were introduced to the government in November who formally adopted it. Kaguembega said that the government now had the tool; it fell on them to act on it and adopt these standards in practice.