In brief: Becoming a chartered accountant in Morocco requires obtaining the DNEC diploma through a highly selective 3-year program at ISCAE, plus a 3-year professional internship and thesis defense. Chartered accountants are regulated by the OEC and hold exclusive authority to certify financial statements and conduct statutory audits.
Becoming a chartered accountant in Morocco also means being the primary point of contact for company executives.
Indeed, through their training, experience, and attentiveness, the chartered accountant meets the various needs of the business. They also contribute to the company’s economic and social development.
However, the chartered accountant’s area of expertise is not limited to company accounting. They also possess several other skills that enable them to guide business leaders toward the most appropriate solutions.
In fact, the chartered accountant is the advisor of choice for the head of a company. Their role is to assist them from the very beginning of their business creation project through to its launch.
Among other things, the chartered accountant provides the business owner with support in administrative, accounting, financial, tax, legal, and social matters. Beyond their core functions, they can also become an effective advisor for the business leader.
As a result, the chartered accountant maintains a relationship of trust with their clients.
How to Become a Member of the Order of Chartered Accountants in Morocco
To become a chartered accountant in Morocco, the law primarily requires holding a diploma from the Moroccan chartered accountancy program. In addition, the law has opened the possibility to individuals holding a chartered accountancy diploma from a country that has obtained equivalence with the Moroccan chartered accountancy diploma. Many current members of the Order hold, for example, a French chartered accountancy diploma.
The Chartered Accountancy Training Program in Morocco
The Moroccan Chartered Accountant diploma was established by decree No. 2.89.519 of 23 hija 1410 (July 16, 1990).
It is awarded to candidates who have met the following training and internship conditions:
First, Training Requirements
To become a chartered accountant in Morocco, one must first meet certain training requirements, namely: holding the National Chartered Accountant diploma.
The Chartered Accountancy Training Program in Morocco is, in fact, a program organized exclusively by the ISCAE Group. It exclusively awards the National Chartered Accountant Diploma (DNEC).
What are the admission requirements for the entrance exam:
First, candidates must meet the eligibility conditions for this training program. Candidates eligible to sit the entrance exam for the Moroccan chartered accountancy program are those holding one of the following diplomas:
- Regular Program of ISCAE
- ISCAE Group (Master’s Degree)
- Advanced Management Program of ISCAE
- ENCG (Master’s Degree)
- Bachelor’s degree in Economics, specializing in Management or Business Economics
- Any diploma recognized as equivalent by the Ministry of Higher Education
What are the entrance exam components:
Eligible candidates must then pass an entrance exam for the Chartered Accountancy program, which consists of 4 written tests, namely:
- General Accounting and Cost Accounting
- Business Law and Tax Law
- Management
- Communication and Expression Techniques
It should be noted that the chartered accountancy program is highly selective. Each year, 500 to 1,000 candidates sit the exam, of which only about sixty are admitted to the chartered accountancy program.
Admitted candidates must follow a training program lasting 3 years. This program runs concurrently with the completion of the professional internship.
What are the areas of expertise by year of study?
1st year: Consolidation and harmonization of accounting, financial, and legal knowledge
2nd year: In-depth study of the core disciplines for the chartered accountant
3rd year: Study of the various auditing and accounts certification techniques
What certificates are obtained each year?
- Year 1: Certificate in Financial Studies and Advanced Accounting
- Year 2: Advanced Certificate in Chartered Accountancy Techniques
- Year 3: Advanced Certificate in Auditing
Each of these certificates requires passing an exam organized annually in two sessions.
What are the exam sessions?
There are 2 exam sessions per year. A regular session takes place in June. Candidates who have not validated all modules are entitled to a 2nd resit session in September.
Admission for each of the above-mentioned certificates requires the candidate to achieve an overall average of at least 12/20.
It should be noted that only candidates who have achieved an overall average of at least 9/20 are eligible to resit in the September session.
Then, Internship and Thesis Requirements
Candidates admitted to the chartered accountancy program (referred to as trainee chartered accountants) are required to complete, simultaneously with their training, a professional internship of 6 semesters. This internship is carried out under the supervision of a qualified practicing chartered accountant. A minimum of 32 hours of internship per week must be documented throughout the 3-year internship period.
The trainee chartered accountant must also prepare six half-yearly reports. These reports must be validated by the internship supervisor, an internship controller, and a panel, all before the final exam of the third year.
The completion of the exams is followed by the writing of a final thesis.
The final thesis consists of a scientific research and professional documentation project on a given topic. Through analysis and personal reflection, the candidate must make a contribution to the profession.
Two sessions are organized per year for thesis defense, in May and September respectively.
The candidate first submits a brief outlining the significance of the topic they intend to present. This brief is then validated by a research committee composed of university professors and chartered accountants. The committee decides on the topic’s relevance and its genuine contribution.
After validation, the candidate has a period of 2 years, renewable for one additional year, to present their research.
At the end, the thesis is publicly defended and a panel deliberates before awarding the candidate the coveted diploma.
The Chartered Accountant in Morocco Is Authorized to Carry Out Diverse Missions
The chartered accountancy profession is multidisciplinary. The chartered accountant can provide advice to businesses at several levels.
A distinction is made between the exclusive missions of the chartered accountant (legal monopoly) and the complementary missions shared with other professions.
Exclusive Missions of the Chartered Accountant
The law authorizes only the chartered accountancy profession to:
- Carry out statutory audit missions
- Issue any certificate on the accuracy and fairness of financial statements
- Certify shareholder current accounts for capital increases
- Act as transformation auditor
- Carry out any mission related to that of the statutory auditor
Complementary Missions of the Chartered Accountant
The chartered accountant is the most appropriate professional to carry out the following complementary missions:
- Assistance with company formation
- Legal services
- Risk mapping
- Financial reporting
- Design & implementation of procedures
- Due diligence
- Preparation and audit of consolidated accounts
- Tax law advisory
- Bookkeeping
- Payroll management
Chartered Accountant Fees
The fees for chartered accountancy services in Morocco are determined based on the scope of work to be performed. Fees are generally estimated based on the time dedicated to the engagement.
The hourly rate of the chartered accountant varies depending on the size of the firm in which they practice. It is freely negotiable between the client and the chartered accountant. This negotiation takes into account the time spent and the qualifications of the teams involved in the engagements.
The statutory audit mission is a monopoly of the chartered accountant in Morocco. Statutory audit fees are freely negotiated, but a minimum fee schedule applies. Indeed, the Order of Chartered Accountants issued a standard in 2020 that sets:
- The minimum number of hours (according to a fee schedule)
- The minimum hourly rate (average hourly rate of 500 MAD)
This standard applies only to statutory audit engagements. However, it provides an indication of the fee level for chartered accountants.
Difference Between Chartered Accounting Firms and Fiduciary Firms
In Morocco, there are fiduciary firms that carry out activities similar to some of those performed by chartered accountants, such as bookkeeping or payroll management.
There are three types of operators in the Moroccan accounting market:
- Certified accountants (comptables agrees), who are organized under their own professional order governed by law 127-12;
- Chartered accountants (experts-comptables), who are organized under the Order of Chartered Accountants governed by law 15-89
These two types of operators are, moreover, the only ones legally authorized to accept accounting support or outsourcing engagements.
In practice, some operators continue to operate outside this regulatory framework. It is therefore very important to verify who you are entrusting your accounting to.
Finally, it is important to know that chartered accountants and certified accountants do not have the same qualifications, as the path leading to chartered accountant status is far more selective than the one leading to certified accountant status.
Furthermore, the Order makes a current directory of its members available to the public. See the following link:
http://jecherchemonexpertcomptable.oecmaroc.com/
The Chartered Accountants of Upsilon Consulting
Salaheddine YATIM
Qualifications
- National Chartered Accountant Diploma from ISCAE
- INTEC Certification in International Standards (IFRS)
- INTEC Certification in International Financial Markets
Relevant Experience and References
- Chartered Accountant, Statutory Auditor, Member of the Order of Chartered Accountants
- 8 years of experience at Deloitte in Audit and Statutory Audit
- Founder of Upsilon Consulting and Groupe Revisea in 2011
- Consultant to local and international companies
Abdelhakim SOUDI
Qualifications:
- Regular Program Diploma from ISCAE
- National Chartered Accountant Diploma from ISCAE
- INTEC Certification in International Standards (IFRS)
Relevant Experience and References
- Chartered Accountant, Statutory Auditor, Member of the Order of Chartered Accountants
- 7 years of experience at Deloitte (in Morocco and Luxembourg) in Audit and Statutory Audit
- Management Controller at Inwi
- Founder of Upsilon Consulting
- Consultant to local and international companies
Frequently Asked Questions
What qualifications are needed to become a chartered accountant in Morocco?
To become a chartered accountant in Morocco, you must obtain the DNEC (Diplôme National d’Expertise Comptable). This requires passing a competitive entrance examination, completing a three-year training program at ISCAE, undertaking a three-year professional internship, and defending a final thesis. The entire process takes a minimum of 7 years.
How competitive is the chartered accountant profession in Morocco?
The profession is highly selective, with a limited number of candidates passing the entrance examination each year. Morocco has approximately 500 to 600 registered chartered accountants for its entire business population, making it a prestigious and in-demand profession with strong career prospects.
What career opportunities are available for chartered accountants in Morocco?
Chartered accountants in Morocco can work in public practice (audit firms, accounting firms), join corporate finance departments as CFOs or financial directors, specialize in advisory services (tax, M&A, consulting), or establish their own firm. The qualification is also valued for board-level positions and international career opportunities.
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