|Extent of IFRS application||Status||Additional Information|
|IFRS Standards are required for domestic public companies||The listing rules of the regional stock exchange do not specify any particular accounting framework.|
|IFRS Standards are permitted but not required for domestic public companies|
|IFRS Standards are required or permitted for listings by foreign companies||The listing rules of the regional stock exchange do not specify any particular accounting framework.|
|The IFRS for SMEs Standard is required or permitted||No.|
|The IFRS for SMEs Standard is under consideration|
Union Economique et Monétaire Ouest Africaine (UEMOA) [West African Economic and Monetary Union].
Organisation pour l'Harmonisation en Afrique du Droit des Affaires (OHADA).
Ordre National des Experts Comptables et Comptables Agréés du Niger (ONECCA Niger).
We have been informed that OHADA has planned the adoption of IFRS Standards for listed companies and companies seeking capital in public markets starting in 2019. Further, the IFRS for SMEs Standard is not currently under consideration. The IFRS Foundation is currently studying the OHADA plan with a view towards updating this profile.
Role of the organisation
The Commission of UEMOA is the governing body of UEMOA. It has authority to adopt accounting standards. By treaty, the member states of UEMOA must abide by decisions of the Commission.
OHADA is a system of business laws and implementing institutions adopted by 17 West and Central African nations.
ONECCA Niger is the professional body of accountants in Niger.
Has the jurisdiction made a public commitment in support of moving towards a single set of high quality global accounting standards?
Has the jurisdiction made a public commitment towards IFRS Standards as that single set of high quality global accounting standards?
Yes, through UEMOA.
The UEMOA has announced a plan to converge its regional accounting standards (known as SYSCOA) toward IFRS Standards starting in 2014. Some information may be found here:
What is the jurisdiction's status of adoption?
Additional comments provided on the adoption status?
Niger is a member of the West African Economic and Monetary Union (UEMOA). www.uemoa.int/Pages/Home.aspx
UEMOA members have adopted the Système Comptable Ouest Africain* (West African Accounting System, or SYSCOA) since 1 January 1998.
Niger is also a member of the Organisation pour l'Harmonisation en Afrique du Droit des Affaires (OHADA). OHADA has also adopted SYSCOA.
SYSCOA has significant differences from IFRS Standards. Banks in the UEMOA member countries do not follow SYSCOA but rather accounting guidelines established under UEMOA banking legislation. Again, there are differences from IFRS Standards.
In 2009, the Council of Ministers of UEMOA approved Regulation N°02/2009/CM/UEMOA creating the Conseil Comptable Ouest Africain, or CCOA (West African Accounting Council). The CCOA functions as an agency of the Commission de l’Union Economique et Monétaire Ouest Africaine (the UEMOA governing body) and is charged with making recommendations to the Commission regarding accounting standards. The Regulation creating the CCOA may be found here:
In 2014, the UEMOA has announced a plan to converge its regional accounting standards (known as SYSCOA) toward IFRS Standards, though no timetable was adopted. Some information may be found here:
A company may choose to prepare IFRS financial statements in addition to SYSCOA financial statements.
*Union Economique et Monétaire Ouest Africaine (UEMOA, 1996), SYSCOA, Système Comptable Ouest Africain, plan comptable général des entreprises, Paris, Foucher, 635 pages.