Gambia
- National Professional Organisation: Gambia Institute of Chartered Accountants (GICA)
- Central Bank of the Gambia
- Regional Association: Association of Accountancy Bodies in West Africa
Financial Reporting Framework in The Gambia
By the Financial Reporting Act of 2013, the GICA became the standard-setter for all companies except for commercial banks. To date, GICA has not established any national financial reporting standards. Consequently, IFRS as issued by the IASB are permitted for the consolidated and separate financial statements of all companies other than commercial banks, and some companies do apply them. As no specific accounting standards are currently required, SMEs are permitted to use the IFRS for SMEs, and some do so.
There is no stock exchange in the Gambia.
The Central Bank of the Gambia is the standard-setter for banks and has directed that all commercial banks operating in the Gambia must adopt IFRS as issued by the International Accounting Standards Board (IASB) as of 1 January 2013.