Towards Greater Financial Transparency

Nine months after its creation, the National Order of Chartered Accountants of the Comoros has reached a key moment in its implementation with the signing of two important decrees.

These texts strengthen the legal framework necessary to ensure the proper functioning of this institution, which is essential to the regulation of the accounting profession. Ali Ahamada Zouber, spokesperson for the Order, welcomed this progress as a significant step towards the implementation of Law No. 19-08/AU of June 25, 2019.

During a press briefing on March 15, the National Council of the Order of Chartered Accountants emphasized the importance of the signing of these two decrees by the Minister of Finance. The first decree defines the organization, composition, and missions of the National Council of the Order. This structure was created to ensure compliance with standards and contribute to the transparency of public finances. The second decree establishes the terms of collaboration with tax authorities, particularly the Directorate General of Taxes (DGI).

One of the most significant aspects of these new regulations is the formalization of the obligation for companies, whether public or private, to submit their tax returns to a certified public accountant. These documents must be certified by the latter before any tax procedure. This measure aims to ensure the compliance of tax returns with the laws of the Ohada region, of which the Comoros is a member. According to Ali Ahamada Zouber, this development represents a guarantee of transparency for economic operators, who must now be aware of this new requirement.