The city of Douala, the economic capital of the Republic of Cameroon, has been hosting since July 27, 2022 a meeting of the plenary assembly of the OHADA National Commissions (ONC). This session extended to the Presidents of the professional accounting bodies of the OHADA member states is examining the draft accounting system for non-profit entities such as mostly cooperative societies, associations, foundations and other projects.
The opening ceremony of the session was chaired by the Minister of State, Minister of Justice, Keeper of the Seals of the Republic of Cameroon, represented for this occasion by his Deputy Minister H.E. Mr. Jean de Dieu MOMO. The opening speech of the Minister was preceded by the welcome speech of Dr. Gaston KENFACK DOUAJNI, on behalf of the Cameroon ONC, the speech of Mr. Léonard AMBASSA, representing the President of the National Order of Chartered Accountants of Cameroon, and the introductory speech of Prof. Emmanuel Sibidi DARANKOUM, Permanent Secretary of OHADA.
During three days, the session will examine the preliminary draft prepared by the FIDECA firm, for its finalization. The rest of the process will involve the Common Court of Justice and Arbitration (CCJA) for an advisory opinion, before the draft is put on the agenda for approval at the next session of the Council of Ministers of OHADA. The forthcoming Accounting Standards should be a further step forward in terms of transparency and improvement of the quality of financial information generated within the OHADA area.
The Permanent Secretary thanks the Cameroonian authorities for the facilities put in place for the good organization of the ONCs plenary meeting. He also thanked the World Bank Group, which financed the whole normative process within the framework of the Project for the Improvement of the Business Climate within the OHADA area (PACI).
The Permanent Secretary,
Prof. Emmanuel Sibidi DARANKOUM