On 27 December 2022, Accounting and Auditing Regulator (ACAR) issued Notification 078 on reminder of implementation on accounting and auditing obligations and obligation of submission of 2022 financial statement to ACAR.
In accordance with 2016 Law of Accounting and Auditing, enterprises and non-profit entities shall implement three obligations as followed:
Read more here about 2016 Law Accounting and Auditing.
To successfully fulfill accounting and auditing obligations, enterprises and non-profit entities must follow instructions as followed:
1.1. Enterprises not subjected to independent audit
1.2. Enterprises subjected to independent audit
2.1. NPEs not subjected to independent audit
2.2. Audited NPEs
Enterprises or NPEs must use E-Filing System of ACAR to submit annual financial statements to ACAR.
Enterprises or NPEs which fail to implement above obligation are subjected to penalties laid out in Sub-Decree 79 dated 1 June 2020 on Provisional fines for the violation of the Law on Accounting and Auditing.
In addition, enterprises or NPEs who fail to implement above obligation for two consecutive years are considered to commit same instances of disobedience.
Advance Grand Formula Co., Ltd is licensed audit firm from Accounting and Auditing Regulator (ACAR Decision N0. 014), member audit firm of Kampuchea Institute of Certified Public Accountants and Auditors (license number C-00085) and tax agent from General Department of Taxation (license number TA202204002).
This Publication is intended for general guidance only and should not form the basic of specific decisions.
Should you need any further information or support, please contact us at: firstname.lastname@example.org (accounting), email@example.com (audit), firstname.lastname@example.org (tax) and number and telegram 085 36 8888 and 070 399 888.