Financial Crime World

Haiti’s Accounting Profession Fails to Meet International Standards

Port-au-Prince, Haiti - A recent report has highlighted the significant gaps between Haiti’s accounting profession and international standards.

University Accounting Programs

According to the World Bank Report on the Observance of Standards and Codes (ROSC) in 2007, Haiti’s university programs do not align with international education standards. The Ministry of Education is responsible for determining the content of university accounting programs, while the Ordre des Comptables Professionels Agrees d’Haiti (OCPAH) maintains a registry of recognized training institutions.

Auditing Standards

Despite a tax decree mandating audits for companies with annual sales or total assets of over US $35,000, auditing standards are lacking in Haiti. The Central Bank has called for the application of international auditing standards, but it remains unclear if this is being implemented in practice.

Code of Ethics

OCPAH’s Code of Ethics is not based on international ethical requirements and does not align with the International Ethics Standards Board for Accountants (IESBA) Code of Ethics. However, plans are underway to adopt the IESBA Code through a new accountancy law that would overhaul the entire regulatory framework.

Current Status

Here is an overview of the current status of Haiti’s accounting profession:

  • University Accounting Programs: Partially Adopted
  • Auditing Standards: Not Adopted
  • Code of Ethics for Professional Accountants: Not Adopted
  • International Public Sector Accounting Standards: Not Adopted
  • Investigation and Discipline Mechanisms: Partially Adopted
  • International Financial Reporting Standards: Not Adopted

Relevant Organizations

The following organizations are relevant to Haiti’s accounting profession:

  • Direction Générale du Trésor et de la Comptabilité Publique (DGTCP)
  • Ordre des Comptables Professionels Agrees d’Haiti (OCPAH)

Sources

For more information, please refer to the following sources:

  • World Bank Report on the Observance of Standards and Codes: Accounting and Auditing - Haiti, November 2007
  • Deloitte IAS Plus, “Financial Reporting Framework in Haiti”, n.d.
  • OCPAH, SMO Action Plan, November 2017

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