Background
Regulatory work is underway to define formal obligations for enterprise financial reporting and audit through a draft prakas titled “Obligation to Submit Annual Financial Statements and to Have Financial Statements Audited by an Independent Auditor.” The draft prakas establishes a regulatory mechanism to require enterprises to file annual financial statements and to obtain independent audits where specified by the regulation.
On 23 June 2026, the Accounting and Auditing Regulator (ACAR) met with representatives of the General Department of Taxation (GDT) at the Ministry of Economy and Finance to discuss criteria for enterprises that would be subject to the draft prakas. The meeting was chaired by the Permanent Secretary of State of the Ministry of Economy and Finance and was attended by ACAR Director General H.E. Bou Tharin and GDT Deputy Director General H.E. Ming Bankosal.
Scope of Application
Discussion during the meeting focused on the criteria that will determine which enterprises fall within the prakas’ reporting and audit obligations. The agencies reviewed classification elements used to distinguish enterprises that must submit audited annual financial statements from those that will be exempt, without finalising any thresholds or specific numerical criteria during the session.
Key Provisions or Decisions
The authorities considered provisions in the draft prakas that address the obligation to submit annual financial statements and the requirement for an independent auditor’s report. ACAR and GDT discussed institutional roles for applying the criteria, including how accounting and tax authorities will coordinate on identifying enterprises subject to the requirement.
Implications for Investors, Businesses, or Compliance
If the draft prakas is enacted in its current form, enterprises covered by the instrument would be required to prepare annual financial statements and obtain an independent auditor’s report as part of their statutory reporting. Affected businesses would need to align internal accounting records with applicable standards and arrange engagement with auditors who meet Cambodia’s professional recognition requirements.
Official Source
The meeting was held on 23 June 2026 at the Ministry of Economy and Finance main building and was reported by the Accounting and Auditing Regulator via its public communication channels. Source: ACAR post on Facebook (https://www.facebook.com/acarcambodia/posts/pfbid02rMXmVFDc2Me2fVaz4rr3QRgkaxFGqEaAFghZiejhyYjyvXrrNvjdQTqyiqpzBvAJl).
