Seminar on “IFRS Standards”

(Dakar, February 24-26, 2020) 

The West African Center for Banking Studies and Training (COFEB) organized, jointly with the Financial Technology Transfer Agency (ATTF) of the Luxembourg House of Training, a face-to-face training seminar on the “International Financial Reporting Standards (IFRS)”, from February 24 to 26, 2020, at BCEAO headquarters in Dakar.

The purpose of the seminar was to provide capacity-building for participants as part of the process of adopting the IFRS standards, with a focus on practical applications in the banking sector.

The training session was led by Mr. Robert Hall, an independent consultant and finance, audit and accounting expert with the ATTF. It was attended by a total of thirty-one (31) participants, including twenty-nine (29) from WAEMU credit institutions and two (2) from the BCEAO.

For three (3) days, the participants exchanged views with the facilitator on various topics, including:

• Changes in the IFRS standards;
• Advanced IFRS techniques and interactions;
• Accounting and reporting in accordance with the IFRS standards; and
• Basel II and III reform and the IFRS standards.

In addition, case studies focused on the banking sector and financial products provided participants with the opportunity to put advanced techniques into practice.

At the end of the session, the participants expressed their satisfaction with the course contents and their appreciation for its skilled delivery by the facilitator, as well as for the way it was organized. They also applauded COFEB’s initiative to include IFRS training in the degree training program for credit institutions, in the light of the importance of the subject. In this regard, they urged COFEB to repeat training on the topic.

The closing ceremony was presided over by Mr. Ousmane Samba Mamadou, General Manager of COFEB.

The ceremony culminated with the presentation of certificates to all those who participated in the training.