The individual practice of the profession consists, for a Chartered Accountant, in equipping and using, on his own account, a working office where he welcomes his clients for the purpose of performing his professional services.
Chartered Accountants and Statutory Auditors practising their profession individually may only do so under their own name, to the exclusion of any pseudonym or impersonal title.
Judicial accounting experts may only use the name ‘Expert for the Court of Appeal’.
Partnership
Chartered Accountants may form partnerships to practise their profession on two conditions:
– All the partners are individually authorised to practise the profession;
– The partnerships thus formed have the approval of the competent authorities.
The business name of the partnerships formed between them must consist exclusively of all the names of the partners or of the name of one of them followed by the words ‘et Cie’.
Joint Stock Company and Limited Liability Company
Chartered Accountants are also authorised to set up joint stock companies or limited liability companies to practise their profession, if these companies also meet the following conditions:
– Their object is the practice of the liberal accounting profession;
– Be constituted as;
1. A single-member company whose partner is duly entered on the roll of the Association;
2. A multi-person limited liability company whose shareholders include at least two chartered accountants duly registered with the Association; 3. Multi-person Public Limited Company (Societe Anonyme pluripersonnelle), whose shareholders include at least three chartered accountants regularly registered with the AMF;
– Proof that a majority of two thirds (2/3) of shares are held by chartered accountants who are nationals of a Member State of the Central African Economic and Monetary Community;
– In the case of joint stock companies, hold their shares in registered form and, in all cases, make the admission of any new member subject to the prior authorisation of either the Board of Directors or the General Meeting of shareholders or unitholders;
– Communicate to the Association Council the list of their members, as well as any changes made to this list;
– Not be under the dependence, even indirect, of any person or interest group, etc.
The chairman or general manager, the managing director or the person with power of attorney must be a member of the independent accountancy profession.
The companies as are mentioned above shall be referred to as ‘Accounting Firms’.
A partner may only take part in the management or direction of a company that is recognised and carries out its activity in the field of accountancy.
The liability of companies recognised by the competent authorities shall not affect the personal liability of each member to the authorities in respect of work carried out on behalf of such companies. This work must be signed by the member and the company.
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