Sierra Leone
- National Professional Organisation: Sierra Leone Accountability Foundation (SLAF) and Council for Standards of Accounting, Auditing, Corporate and Institutional Governance (CSAAG)
- Regional Association: Association of Accountancy Bodies in West Africa
Financial Reporting Framework in Sierra Leone
Listed companies, banks, and insurance companies (and statutorily recognised financial institutions in general) are required to apply the full IFRS as issued by the IASB.
On 30 December 2009, the Council for Standards of Accounting, Auditing, Corporate and Institutional Governance (CSAAG) of Sierra Leone unanimously passed a Resolution (PDF 69k) adopting the IFRS for SMEs for profit seeking entities that fall outside its conditions for the application of full IFRSs. The IFRS for SMEs is voluntary (that is, permitted) for reporting periods commencing 1 January 2010 and is mandatory (required) for reporting periods commencing 1 January 2011.
CSAAG has also adopted a separate not-for-profit/public-benefit-entity standard based on the UK SORP 2005 for Charities.