Highlights

On opening the proceedings of the XIIth Assembly held at the General Treasury of the Kingdom in Rabat, Mr. LOUDYI stated that the agenda for the assembly includes notably the draft-project of the government`s accounting plan, a tool for good governance in public finances as part of the global reforms initiated in Morocco, especially to follow up on and oversee state and public transactions. Its implementation aims at making the accounting of the state into a reliable information system as well as a management tool to analyse the state`s financial transactions and performance.

The NCA is the official body for accounting standardisation, comprising 54 members from public administrations, business, accounting and accounting training. The NCA is consulted on any regulation, recommendation or instruction relating to accounting.

Mr. LOUDYI also conveyed that the different projects of sector-based accounting norms were being designed or finalised by the relevant technical commissions and working groups.

After setting out the programme, Mr. Abdelaziz TALBI, Director of Public Enterprises and Privatisation Department and President of the NCA`s Permanent Council, presented activities undertaken by the NCA since the previous assembly held on May 10th 2007. He pointed out that the government`s accounting plan will help improve the quality of accounting and financial data on public finances, by integrating a patrimonial approach. Moreover, Mr. TALBI underlined the fact that the plan takes into consideration the specifics of public accounting, while working towards meeting international accounting standards for the public sector (IPSAS).

To improve the dissemination of accounting information, Mr. TALBI announced the launch of the redesigned Ministry of Economy and Finance website, with a specific NCA rubric which can be used to download all accounting norms adopted since the inception of the council.

For his part, Mr. Said IBRAHIMI, General Treasurer of the Kingdom, noted that the new government`s new accounting plan was based on two-dimensional accounting that can provide a wide range of financial data, including budgetary accounting to reflect the implementation of the Finance Bill, and on general accounting to further monitor and follow up on government resources and spending.

Mr. IBRAHIMI added that the plan is a valuable tool to measure public action and performance, and to assist managers and decision-makers. It is also a source of information for entities overseeing public finances and for civil society.

During the proceedings, the XIIth Plenary Assembly examined and adopted the draft-project of the state accounting plan. The assembly also finalised the NCA action plan for the 2009-2010 period, which notably comprises reviewing the General Code of Accounting Normalisation, amending Bill n? 9-88 relating to accounting requirements for shopkeepers, elaborating the draft-project regarding account consolidation for public interest entities, AND finalising accounting rules applicable to risk capital investment funds. Moreover, the action plan also includes the accounting plan project for universities, as well as the implementation of action laid out in the Report on the Observance of Standards and Codes (ROSC project) with the support of the World Bank.