Certification of Financial Statements by a Chartered Accountant for SMEs in Lubumbashi Democratic Republic of the Congo

This article investigates the factors influencing the decision of Small and Medium Enterprises (SMEs) in Lubumbashi, Democratic Republic of Congo, to engage—or not engage—a certified public accountant for the audit and certification of their financial statements. Despite a strict regulatory framework—based on the revised SYSCOHADA standards, requirements from the National Order of Chartered Accountants (ONEC), and fiscal obligations from the General Directorate of Taxes—most SMEs fail to comply. The study adopts a theoretical framework combining organizational legitimacy theory, stewardship theory, and institutional compliance theory to analyse the impact of individual, organizational, and institutional factors. A quantitative survey was conducted with 384 SME managers, selected through stratified random sampling. The data were analysed using binary logistic regression and structural equation modelling. The results reveal that organizational characteristics (such as firm size, location, and availability of accounting professionals) are the primary determinants of certification. Institutional factors, including the informal business culture and perceived cost of services, also influence decision-making. In contrast, individual characteristics of business leaders— such as their training or awareness—play only a marginal role. The paper recommends strengthening incentives, supporting SMEs through tailored programs, and improving the accounting infrastructure to foster better regulatory compliance.