Find Accountancy, Audit and Tax expertise in Nauru
Accounting and auditing services are limited in Nauru as there is an absence of accounting firms located on the island. The Director of Audit is responsible for auditing the yearly statement of accounts for Nauru’s government and annual financial statements of companies based in Nauru, according to the Audit Act of 1973. Currently Nauru has not adopted the International Financial Reporting Standards. The international accounting firm, Deloitte, began managing the liquidation process of the Bank of Nauru in 2011. Otherwise major professional services firms are generally not active on the island.
There is no local professional body for accountants. The Association of Certified Chartered Accountants (ACCA) offers online courses and has examination centres in Australia and New Zealand.
There are no income, corporate, capital gains, real estate, inheritance, estate, gift, or stamp taxes in Nauru. Government revenue comes mainly from a 7% customs charge on all goods, implemented in 2004, and an airport departure tax issued on all outgoing passengers.