In Cameroon, except the first year of the company’s existence, which may have a longer or shorter duration, the financial year corresponds in principle to the calendar year. The Companies must maintain proper books of Accounts for the business transactions.
YourGlobalPro professionals can assist you with the entire bookkeeping and accounting services for your Cameroon Business Setup as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.
In Cameroon, at the end of each financial year, the management must prepare the company’s annual summary financial statements (known as “états financiers de synthèse”) and must also prepare a management report. The appointment of statutory auditor (Commissaires aux comptes) is mandatory in an SA whereas it is in principle optional in an SARL.
Based on the size of the business – the companies are required to prepare and file financial statements with the Authority. YourGlobalPro professionals provide you auditing services as required by your business in Cameroon.
Opening an account in a bank is quite easy in Cameroon. The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening.
The major banks in Cameroon are Afriland First Bank, Atlantic Bank Cameroon, Banque International du Cameroun pour l’Epargne et le Crédit (BICEC), BGFI Bank Cameroon, ScbCameroun, Citibank, Commercial Bank of Cameroon, Ecobank Cameroon – Acquired Oceanic Bank Cameroon, National Financial Credit Bank (NFCB), Société Commerciale de Banque du Cameroun – (Formerly SCB Credit Agricole), Societe Generale des Banques au Cameroun (SGBC), Standard Chartered Bank, Union Bank of Cameroon (UBC), United Bank for Africa (UBA). All banks are stable, reliable and offer the same level of services.
YourGlobalPro professionals facilitate all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Cameroon.