An agreement was signed on Tuesday between the Tunisian Institute of Chartered Accountants (OECT) and Tunisie Clearing, the central securities depository and manager of the securities settlement and delivery system, with the aim of promoting financial transparency.
According to the OECT, the agreement will facilitate the exchange of expertise and collaboration in developing and implementing accounting standards for financial instruments, confirming data on financial instruments during audit missions and maintaining and monitoring securities registers.
The ultimate goal is to promote financial culture and transparency, develop capital market security, and encourage research and training.
The Tunisian Institute of Chartered Accountants is a professional body created in 1983 and placed under the supervision of the Ministry of Finance.
It brings together professionals authorised to practise as chartered accountants and is endowed with legal personality.
Based in Tunis, its Council is responsible for ensuring the normal functioning of the chartered accountancy profession, enforcing its rules and obligations, and defending its honour and independence.
Tunisie Clearing was established on December 28, 1993 under the name STICODEVAM.
Its legal existence and scope of action were confirmed by Law 94/117 of November 14, 1994, which reorganised the Tunisian financial market.
Its shareholders are stockbrokers and seven local banks. They hold equal shares in the capital.
Tunisie Clearing’s main tasks consist of centrally holding securities on behalf of participants, acting as guarantor of the integrity of a securities issue and organizing the circulation of securities between participants in the settlement and delivery system.
