Qualified foreign nationals may register with Order of Accountants upon meeting requirements and subject to reciprocity. Only foreigners who have resided in Madagascar for over 10 years and that meet qualification requirements are entitled to register and practice as chartered accountants [auditors]. Only registered accountants and chartered accountants can be nominated for the positions of chairman, managing director and manager of accounting and auditing firms, and 3/4 of accounting and auditing firms assuming a limited liability form must be owned by registered accountants and chartered accountants.
"Art. 4 - No one may use the title of chartered accountant and financier and practice the profession if he is not a member of the Order as defined in article 11.
Art. 5 - The profession of chartered accountant and financier is incompatible with any activity and in particular any act likely to undermine the independence of the person who exercises it.
(Law n° 96-019 of 04.09.96) It is forbidden for the accountant and financial expert to hold a salaried job and to carry out commercial acts on a regular basis. However, the accountant and financial expert may provide education related to the exercise of his profession, or hold a paid job with an accountant and financial expert or in an accounting firm.
The accountant and financial expert can neither act as a business agent nor represent one of the parties before the courts of the administrative order or the judicial order.
He must not devote the major part of his activity to work concerning a single company, a single financial group or a single community or association of interests.
[...]
Art. 9 - Chartered accountants and financiers may set up among themselves accounting and financial chartered companies in the form of:
A - Either civil companies or general partnerships, under the dual conditions:
1 That all associates be individually members of the Order
2 That the companies in question be recognized by the Council of the Order as being able to legally engage in public accounting.
B - Either public limited companies or limited liability companies provided that these companies:
- have as their object the exercise of the accounting profession;
- justify that at least three quarters of their shares or shares are held by accountants and financial experts, the rest may be held by persons bound to the company by an employment contract;
- choose their Chairman, their Managing Director, their managers or their proxies from among the chartered accountant and financial partners;
- have, in the case of joint-stock companies, their shares in registered form and, in all cases, make the admission of any new shareholder subject to the prior approval either of the Board of Directors or of the unitholders;
- communicate to the Council of the Order the list of their associates as well as any modification made to this list, keep the same information available to the public authorities and all interested third parties;
- be recognized by the Council of the Order as being able to legally engage in accounting and financial expertise.
The provisions of article 5 relating to the accountant and financial expert are applicable to accounting and financial expertise companies.
[...]
Art. 11 - (Law n° 96-019 of 04.09.96) - Any person of Malagasy nationality who intends to devote his activity to accounting and financial expertise in Madagascar must request his registration on the roll of the Order by justifying:
1° Possession of an official accountant and financial expert diploma or a diploma recognized as equivalent by the Equivalence Commission which is instituted by a regulatory text;
2° Of the enjoyment of his civil rights;
3° The absence of conviction for acts contrary to honor, probity and good morals and for the illegal exercise of the profession.
It must also declare:
1° That it has never been declared bankrupt or in receivership;
2° That he has not exercised the functions of Manager, Director or Chief Executive Officer of a company declared bankrupt or in legal settlement;
3° That she has not been excluded from the profession of auxiliary of justice;
4° And in general, that it has not infringed the legislation on the prohibitions of the right to manage and administer companies;
5° That she is at least 25 years old;
6° That he is resident in the territory of the Republic of Madagascar.
Art. 12 - (Law n° 96-019 of 04.09.96) -Any person of foreign nationality who intends to devote his activity to accounting and financial expertise must apply for registration on the roll of the Order by justifying:
That she meets all the conditions of article 11 with the exception of nationality, and that she has also successfully passed an aptitude test to assess the acquired knowledge of business law applicable in Madagascar ; the composition of the jury, the program and the organization of the aptitude test are governed by a regulatory text, provided that the applicant's country authorizes the professional practice of Malagasy accountants and financial experts under a protocol specific agreement.
[...]
Section III - Chartered accountant
Art. 18 - Is a certified accountant the technician who has the habitual profession of organizing, opening, keeping, centralizing, assisting and monitoring and, in the exercise of these missions, rectifying the accounts of the companies and organizations to which he is not bound by an employment contract.
[...]
Art. 21 - Any person who intends to practice the profession of chartered accountant, in accordance with article 18 of this ordinance, must request his registration on the roll of the Order by justifying:
1° Possession of Malagasy nationality;
2° Of the enjoyment of his civil rights;
3° The absence of conviction for acts contrary to honour, probity and good morals and for the illegal exercise of the profession.
[...]
Art. 22 - By way of derogation from paragraph 1 of article 21, persons who are not of Malagasy nationality but residing in the territory of the Malagasy Republic for 10 years may be registered on the roll of the Order as chartered accountants. at least, and which meet the conditions set out in the preceding article 21.
[...]
Art. 29 - Chartered accountants may set up accounting companies among themselves in the form of:
A - Either civil companies or general partnerships, under the double conditions:
1° That all associates be individually members of the Order.
2° That the companies in question be recognized by the Council of the Order as being able to legally engage in the activity of chartered accountant.
B - Or public limited companies or companies with limited liability provided that these companies:
- have as their object the practice of the chartered accountant profession;
- justify that at least three quarters of their shares or units are held by chartered accountants, the rest may be held by persons bound to the company by an employment contract;
- choose their chairman, their managing director, their managers or their proxies from among the chartered accountant partners;
- have, in the case of joint-stock companies, their shares in registered form and, in all cases, make the admission of any new shareholder subject to the prior approval, either of the Board of Directors or of the bearers of shares;
- communicate to the Council of the Order the list of their partners, as well as any modification made to this list, keep the same information at the disposal of the public authorities and all interested third parties;
- are recognized by the Council of the Order as being able to legally engage in the activity of chartered accountant. [...]" (ORDINANCE N° 92-047 OF NOVEMBER 5, 1992 relating to the organization of the professions of chartered accountant and finance and chartered accountant and the restructuring of the Order bringing together the members of these professions ( JO n° of 14.12.92 p. 2790) supplemented by law n° 96-019 of 4 September 1996 (JO n° of 23.09.96 p. 2060 [google translation])
ORDINANCE N° 92-047 OF NOVEMBER 5, 1992 relating to the organization of the professions of chartered accountant and finance and chartered accountant and the restructuring of the Order bringing together the members of these professions ( JO n° of 14.12.92 p. 2790) supplemented by law n° 96-019 of 4 September 1996 (JO n° of 23.09.96 p. 2060 [google translation]
[<a href="https://jwf-legal2.fr.gd/Ordonnance-14.htm">Order</a>]