PROFFEST was mandated to:
Bridge the gap between international financial reporting (IFRS) and local regulatory compliance (OHADA & tax law)
IFRS to OHADA Conversion & DSF for an International Law Firm
Converted IFRS-based financial statements from international partners into OHADA-compliant accounts and prepared a fully compliant DSF for tax submission in Cameroon.
About the Client
Von Seidels is a well-established intellectual property and commercial law firm, operating across multiple jurisdictions, with strong ties to South Africa and international markets.
The firm’s financial statements were prepared by its international partners using IFRS standards, reflecting a structure aligned with global reporting practices rather than local regulatory frameworks in Cameroon.
Context
While IFRS-based financial statements are suitable for international reporting, companies operating in Cameroon are required to comply with:
- OHADA accounting standards (SYSCOHADA)
- Local tax regulations
- Annual Statistical and Tax Declaration (DSF) requirements
Von Seidels engaged PROFFEST to:
- Convert its IFRS financial statements into OHADA-compliant accounts
- Prepare and submit its 2025 DSF in full compliance with local regulations
WORK ATTESTATION
What We Did
- IFRS Financial Review
- Analyzed the complete set of IFRS-based financial statements
- Assessed structure, classifications, and accounting treatments
Identified key differences with OHADA requirements
- IFRS to OHADA Conversion
- Restated financial statements to align with SYSCOHADA standards
- Adjusted:
- Account classifications
- Recognition rules
- Presentation formats
- Documented all adjustments with clear justification and audit trail
- Ensured full compliance with OHADA accounting principles
- DSF Preparation (2025)
- Prepared the full Statistical and Tax Declaration (DSF)
- Ensured consistency between:
- Converted OHADA financial statements
- Tax declarations
- Integrated all required fiscal schedules and disclosures
- Digital Filing & Compliance Support
- Assisted with electronic preparation and submission via the tax platform
- Provided support for post-submission queries
- Ensured compliance with the General Tax Code of Cameroon
- Ethical & Compliance Assurance
- Applied a strict non-falsification and compliance policy
- Flagged any inconsistencies or gaps in financial information
- Maintained full transparency and professional integrity throughout the process
Tools & Framework
- OHADA SYSCOHADA standards
- IFRS financial frameworks
- Cameroon General Tax Code
- DGI electronic declaration platform
Key Achievements
- Successfully converted international IFRS financial statements into OHADA-compliant accounts
- Delivered a fully compliant DSF ready for submission
- Ensured alignment between global reporting and local tax obligations
- Maintained high standards of accuracy, documentation, and compliance
- Supported a cross-border firm in navigating complex regulatory differences
Impact
This engagement enabled Von Seidels to:
- Operate confidently within Cameroon’s regulatory environment
- Ensure compliance with local tax authorities
- Maintain consistency between international and local financial reporting
It also highlights PROFFEST’s strength in:
- Cross-border accounting and reporting
- IFRS to OHADA conversions
- Tax compliance and DSF preparation for international firms
Media dump
We took a little souvenir from Von Seidels