Background
The Accounting and Auditing Regulator (ACAR) is the administrative agency responsible for issuing prakas that operationalize provisions of the Law on Accounting and Auditing and related subordinate regulations. Prakas are agency-level regulatory instruments that prescribe forms, procedural steps, and administrative mechanisms for actions such as penalty imposition, payment processing, receipt management, and appeal handling.
Under Cambodia’s regulatory framework, a prakas can set the mandatory formats and timelines that regulated entities must follow to submit appeals or pay administrative fines. The prakas under discussion would specify the processes for submission, receipt, resolution of appeals, the imposition and payment of fines, and the management and designated use of revenues collected from those fines.
Scope of Application
The proposed prakas apply to penalty decisions issued by ACAR in connection with violations of the Law on Accounting and Auditing and other applicable accounting and auditing regulations. The instruments under discussion cover administrative procedures for appeals against ACAR penalty decisions and the administrative handling of fines, including payment receipts and the allocation of fine proceeds.
Key Provisions or Decisions
On 13 August 2026, ACAR convened a meeting presided over by H.E. Bou Tharin, Director General, with participation from heads of departments and ACAR officials. The agenda included two principal items: (1) a Prakas on the forms and procedures for submission, receipt, and resolution of appeals against ACAR penalty decisions; and (2) a draft Prakas on the forms and procedures for imposition and payment of fines, the management of fine-payment receipts, and the management and use of proceeds from fines imposed for violations of the Law on Accounting and Auditing and related regulations.
Implications for Investors, Businesses, or Compliance
If adopted, the prakas would standardize administrative processes that accounting professionals, audit entities, and other regulated parties must follow when responding to penalty decisions. Entities subject to ACAR oversight should anticipate requirements for standardized forms, documented payment receipts, and formal appeal channels, and should prepare internal controls and recordkeeping to align with the procedures once they are promulgated.
Official Source
Source: Accounting and Auditing Regulator (ACAR) Facebook post, 13 August 2026 — https://www.facebook.com/acarcambodia/posts/pfbid0wUioigcGoLi3jz2ZcCjPSNppdHrbxZ8SE8vUxres1e39bwtnyq43wzP13FHMcrefl
