Reminder of Obligations Under Law on Accounting and Audit
Subject: Accounting, Audit
Applicable Industries: Logistics

On 3 September 2021, Accounting and Auditor Regulator (“ACAR”) issued Notification No. 355 on Inspection Visits and Implementation of Interim Fines for Violations of Law on Accounting and Audit (“Notification 355”). Notification 355 reminds enterprises covered under the Law on Accounting and Audit of their obligations to keep accounting records, to prepare financial statements in accordance with prescribed standards, and to submit audited financial statements along with other obligations stated in the Law.

ACAR will begin conducting onsite inspections at enterprises and will start to issue penalties for those enterprises that are in violation of the Law on Accounting and Audit from 11 September 2021. To read more about the penalties as set out in Sub-Decree 79, please read our update here.

Advance Grand Formula Co., Ltd is licensed audit firm from Accounting and Auditing Regulator (“ACAR”) and member audit firm of Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA). 

Should you need any further information or support, please contact us at: