Burundi

Financial reporting and auditing in Burundi are governed by: (i) the Companies Act No. 01/09 of May 30, 2011; (ii) the revised Accountants Decree (2025); and (iii) related implementing decrees and regulations issued through the Ministry of Finance.

The Companies Act establishes the legal requirements for the preparation and filing of financial statements for entities registered in Burundi, including private companies and state-owned enterprises. The financial reporting year-end is 31 December. Annual financial statements must be prepared in accordance with applicable law and filed no later than 31 March of the following year. Financial statements must be prepared or certified by a professional accountant registered with the Ordre des Professionnels Comptables du Burundi (OPC Burundi).

The revised Accountants Decree provides the legal basis for the recognition of internationally accepted accounting, auditing, quality management, education, and ethical standards. Under the institutional framework, OPC proposes international standards, which are transmitted through the Ministry of Finance to the Council of Ministers and subsequently adopted by presidential decree or other applicable legal instrument. Once adopted, OPC is responsible for issuing implementation guidance, promoting awareness, and supporting application by its members.

Statutory audits are mandatory for public limited companies and state-owned enterprises and are optional for other entities unless otherwise required by specific legislation. Statutary auditors are appointed by the General Assembly of shareholders for a term not exceeding three years. For state-owned enterprises, auditors may also be appointed by the Minister responsible for Finance. The scope of the statutory auditor’s responsibilities is defined in the Companies Act.

International standards recognized under the revised decree include International Standards on Auditing (ISA), International Standards on Quality Management (ISQM 1 and 2), International Financial Reporting Standards (IFRS), International Education Standards (IES), the International Code of Ethics for Professional Accountants (including International Independence Standards), and International Public Sector Accounting Standards (IPSAS). Audits of government institutions remain under the authority of the Office of the Auditor General.

The accountancy profession in Burundi is regulated by the Ordre des Professionnels Comptables du Burundi (OPC Burundi), established under Decree No. 100/053 of May 11, 2001 and reinforced by the revised Accountants Decree (2025).

OPC is recognized by law as the national professional accountancy organization and is responsible for regulating the profession.

Under the revised legal framework, OPC is authorized to: (i) register and license professional accountants and audit firms; (ii) maintain an official register of members and firms; (iii) monitor compliance with applicable professional standards; (iv) establish and operate quality assurance mechanisms; (v) enforce ethical requirements; (vi) conduct investigation and disciplinary proceedings; and; (vii) issue guidance supporting implementation of adopted international standards.

Membership in OPC is mandatory for individuals wishing to practice as professional accountants or statutory auditors in Burundi.

The Ministry of Finance retains an oversight role in the adoption of international standards through the formal decree process. Audits of government institutions remain under the authority of the Office of the Auditor General.

OPC operates through a Governing Council and standing commissions, including: (i) Quality Assurance Commission; (ii) Disciplinary Commission; (iii) Training Commission; (iv) Accounting and Audit Standards Commission; and (v) Member Registration Commission. These commissions support OPC in carrying out its statutory regulatory responsibilities.

Audit oversight in Burundi is governed by the revised Accountants Decree (2025) and the Companies Act No. 01/09 of May 30, 2011.

The Ordre des Professionnels Comptables du Burundi is responsible for the regulation, licensing, and supervision of statutory auditors and audit firms. This includes authority to establish and operate a quality assurance review system, enforce compliance with International Standards on Auditing and applicable ethical requirements, and conduct investigation and disciplinary proceedings where necessary.

The Ministry of Finance plays a role in the formal adoption of international standards through the decree process but does not conduct routine inspections of audit firms.

Audits of government institutions are not subject to OPC oversight and fall under the authority of the Office of the Auditor General.

At the time of assessment, there is no separate independent public audit oversight authority distinct from the professional accountancy organization.

Pursuant to the revised Accountants Decree (2025), the Ordre des Professionnels Comptables du Burundi is the legally recognized professional accountancy organization responsible for regulating the accountancy profession within the jurisdiction.

Under the law, OPC Burundi is mandated to (i) regulate and supervise the practice of accountancy; (ii) maintain the official register of professional accountants and audit firms; (iii) grant and withdraw practicing licenses; (iv) establish and enforce professional, ethical, and technical standards once legally adopted; (v) operate a quality assurance review system for statutory auditors and audit firms; (vi) conduct investigation and disciplinary proceedings; (vii) oversee professional education and continuing professional development requirements; and (viii) advise public authorities on matters relating to accounting, auditing, and financial reporting.

There are no other professional accountancy organizations in Burundi with statutory authority to regulate or license professional accountants.

OPC Burundi is an IFAC Associate and a member of the Pan African Federation of Accountants (PAFA).

The revised Accountants Decree (2025) provides the legal basis for the establishment of a mandatory quality assurance (QA) review system aligned with internationally recognized standards, including ISQM 1 and ISQM 2. Ordre des Professionnels Comptables du Burundi (OPC Burundi) has been granted authority to design and implement a QA review framework covering statutory auditors and audit firms. At the time of assessment, the QA system is under development, including the establishment of review methodologies, training of reviewers, and operational procedures. Full implementation of a cycle-based or risk-based QA review system covering all mandatory audits is in progress. Accordingly, while the legal framework exists, the system is not yet fully operational for all mandatory audits as required under SMO 1.

Current Status: Partially Adopted

The revised Accountants Decree (2025) formally recognizes the International Education Standards issued by IFAC and provides Ordre des Professionnels Comptables du Burundi (OPC Burundi) with authority over professional accountancy education, qualification, and continuing professional development. The legal framework applies to entry requirements, initial professional development (including practical experience and assessment), and continuing professional development for professional accountants. Based on available information, the jurisdiction is aligned with the Revised 2019 International Education Standards (IES 1-8) in effect at the time of assessment

Current Status: Adopted

In accordance with the revised Accountants Decree (2025), responsibility for adoption of auditing standards is shared between Ordre des Professionnels Comptables du Burundi (OPC Burundi) and the Ministry of Finance through the formal decree process. OPC proposes international auditing standards, which are transmitted through the Ministry of Finance for legal adoption.

ISA are adopted as issued by the International Auditing and Assurance Standards Board (IAASB), and the ISA Handbook in effect at the time of assessment is applicable in Burundi. ISA are required for application in all mandatory statutory audits in accordance with the Companies Act and related legislation.

Based on available information, ISA in their entirety in effect at the time of assessment have been adopted at the jurisdiction level.

Current Status: Adopted

According to the revised Accountants Decree (2025), the Ordre des Professionnels Comptables du Burundi has authority to adopt ethical standards for professional accountants.

The International Code of Ethics for Professional Accountants, including the International Independence Standards, issued by the International Ethics Standards Board for Accountants, is adopted as issued by the standard setter and applies to all professional accountants registered with OPC Burundi.

The International Code of Ethics for Professional Accountants in effect at the time of assessment is legally recognized and applicable within the jurisdiction.

Based on available information, the International Code of Ethics for Professional Accountants in its entirety in effect at the time of assessment has been adopted at the jurisdiction level

Current Status: Adopted

According to the revised Accountants Decree (2025) and related public financial management legislation, the Government of Burundi, through the Ministry of Finance, has authority to adopt International Public Sector Accounting Standards issued by the International Public Sector Accounting Standards Board.

International Public Sector Accounting Standards are legally recognized within the jurisdiction and are being introduced within the public financial management framework. However, full accrual-basis International Public Sector Accounting Standards have not yet been confirmed as applicable to all public sector entities at the time of assessment.

Based on available information, International Public Sector Accounting Standards have been adopted within the legal framework, but full application across all public sector entities has not yet been confirmed. Accordingly, adoption is assessed as partial.

Current Status: Partially Adopted

According to the revised Accountants Decree (2025), the Ordre des Professionnels Comptables du Burundi has authority to establish and operate an investigation and disciplinary system applicable to all professional accountants registered with the organization.

The legal framework empowers OPC Burundi to initiate investigations, impose disciplinary measures, and establish an appeals process. The system incorporates investigation, disciplinary, and appeal mechanisms and applies to all members of the profession under OPC’s regulatory authority.

Based on available information, an investigation and disciplinary system incorporating the requirements of SMO 6 has been legally established and is operational within the jurisdiction.

Current Status: Adopted

According to the revised Accountants Decree (2025) and the Companies Act No. 01/09 of May 30, 2011, the Ordre des Professionnels Comptables du Burundi (OPC Burundi), in coordination with the Ministry of Finance, has authority to propose and adopt International Financial Reporting Standards issued by the International Accounting Standards Board.

International Financial Reporting Standards are adopted as issued by the International Accounting Standards Board and are applicable to entities required to prepare financial statements under the Companies Act and related regulations. The International Financial Reporting Standards in effect at the time of assessment are legally recognized within the jurisdiction.

Based on available information, International Financial Reporting Standards in their entirety in effect at the time of assessment have been adopted at the jurisdiction level.

Current Status: Adopted

Relevant Organizations

Relevant Legislation

Relevant Publications

Republic of Burundi - Report on the Observance of Standards and Codes (ROSC) : accounting and auditing - report of review of the accounting profession and the framework for standardization of audit