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Accounting and accounting rules in Mauritius

Accounting Rules

Tax Year
From 1 July to 30 June
Accounting Standards
All companies as stipulated in the Companies Act 2001, except for small private companies, which do not qualify as Public Interest Entities (PIEs), must prepare financial statements in accordance with International Financial Reporting Standards (IFRS) as issued by the IASB. The First Schedule of the Financial Reporting Act (FRA) 2004 defines PIEs as all companies that are listed on the Stock Exchange of Mauritius, financial institutions, other than cash dealers, regulated by the Bank of Mauritius or by the Financial Services Commission, and companies that exceed one of the following thresholds in the two consecutive preceding periods: (i) annual turnover exceeding MUR 500 million; or (ii) total assets exceeding MUR 500 million.
Companies that do not qualify as a PIE may prepare financial statements in accordance with the IFRS for SMEs.
Accounting Regulation Bodies
Financial Reporting Council (FRC)
Accounting Reports
All companies must maintain statutory books and records that accurately show the transactions and financial position of the company.
The board of every company must ensure that within six months after the balance sheet date of the company, the financial statements are dated and signed on behalf of the board by two directors of the company or, where the company has only one director, by that director.
Publication Requirements
Every company, other than small private companies, shall ensure that within 28 days after the financial statements of the Company and group financial statements are required to be signed, copies of those statements together with a copy of the auditor’s report on those statements are filed with the Registrar of Companies.
The Companies Act 2001 stipulates that the financial statements of all companies, except for small private companies that do not exceed thresholds related to annual turnover and total assets, must be audited in accordance with ISA as issued by the IAASB.
Professional Accountancy Bodies
Mauritius Institute of Professional Accountants
Certification and Auditing
National Audit Office
Accounting News

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Latest Update: December 2023