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Accounting and accounting rules in Morocco

Accounting Rules

Tax Year
The calendar year normally is the fiscal year, although a company may opt for a different fiscal year.
Accounting Standards
All banks and similar financial institutions need to file using IFRS Standards. All companies listed on the Casablanca Stock Exchange other than banks and similar financial institutions are required to choose between IFRSs and Moroccan GAAP.
Accounting Regulation Bodies
National Council of Accounting (Link in French)
Accounting Reports
Moroccan Institute of Chartered Accountants aims to converge the Moroccan Standards on Auditing with International Standards on Auditing (ISA) for statutory audits by December 2017.
Publication Requirements
The balance sheet describes separately the asset and liabilities items of the business.
The income and expense account summarizes the incomes and expenses of the financial year without considering their date of cashing or payment.
The management balances report describes the formation of the net income and that of self-financing.
The funds flow statement highlights the financial growth of the company during the financial year by describing the resources provided and jobs provided from it.
The additional details report supplements and comments on information provided by the balance sheet, the income and expense account, the management balances report and the funds flow statement.

The account should be certified annually.

Professional Accountancy Bodies
Moroccan Institute of Chartered Accountants
Moroccan Institute of Internal Auditors
Certification and Auditing
Audit is obligatory for public limited companies, listed companies, banks and private limited companies with annual turnover higher than MAD 50 million. In the case of a public limited company, a company's audit must be done by a government appointed auditor during the annual general meeting. The government auditor must belong to the Public Accountants Corporation.
For some companies - listed, public, banking, credit institute companies, etc - the audit must be done by two government auditors.
Accounting News

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Latest Update: November 2022

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