Notification 031/24 AAR (Notification 031/24) was issued by the Accounting and Auditing Regulator (ACAR) on the 15th of May 2024 to clarify the implementation of Circular no. 009 MEF dated 01 September 2021 on the Use of Language and Currency in Accounting Records and Financial Statements.
Notification 031/24 clarifies that:
- Enterprises and non-profit organizations can use the English language in accounting records and supporting documents without needing to translate to Khmer language from the date of when their operations began.
- Enterprises and non-profit organizations may be required to translate accounting records and/or supporting documents from English to Khmer if ACAR requests during an audit.
ACAR encourages all relevant entities to adhere to these guidelines responsibly.
For any queries regarding your ACAR filing requirements or obligations please contact Ms. Michelle Cielo, Accounting Director at (michelle.cielo@dfdl.com) or Ms. Vattanakpagna Chhun, Accounting Senior Manager at (vattanakpagna.chhun@dfdl.com).
Bookkeeping services, required to be undertaken by a licensed firm in Cambodia, are provided by Mekong Accounting Services Co., Ltd, a member of the DFDL group, a corporate member of the Kampuchea Institute of Certified Public Accountants and Auditors and licensed by the Accounting and Auditing Regulator of Cambodia.
The information provided here is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.
