Background
As the sector regulator, the Accounting and Auditing Regulator (ACAR) oversees compliance with professional accounting and auditing standards and issues administrative decisions, including penalty determinations, within its mandate. The Accounting and Auditing Regulator (ACAR) issues administrative penalty decisions as part of its regulatory oversight of accounting and auditing practice.
Prakas instruments are used in Cambodia to prescribe administrative forms and procedural rules for implementation of sector-level regulation. The draft Prakas under discussion establishes forms and procedures for submission, receipt, and resolution of appeals against penalty decisions issued by ACAR.
Scope of Application
The draft Prakas is framed to apply to appeals lodged against penalty decisions issued by the Accounting and Auditing Regulator. The scope therefore covers individuals and legal entities subject to ACAR’s penalties, including regulated accounting and auditing professionals and firms that receive penalty decisions from ACAR.
Key Provisions or Decisions
On 9 September 2026 at 09:00, ACAR organized an online public consultation to review the draft Prakas on the forms and procedures for filing and resolving appeals against ACAR penalty decisions. The consultation was chaired by H.E. Bou Tharin, Director General of ACAR, accompanied by Deputy Director General Nean Bony.
Approximately 230 participants joined the consultation, including ACAR leadership and officials, representatives from the Ministry of Justice, the Ministry of Commerce, the General Department of Taxation, the General Secretariat of the Non-Bank Financial Services Authority (FSA), the National Bank of Cambodia, non-profit organisations, private-sector entities, and members of the public. ACAR collected stakeholder inputs on the draft text during the session.
Implications for Investors, Businesses, or Compliance
The draft Prakas is designed to create a standardized procedure for administrative appeals related to ACAR penalty decisions, which would clarify submission and receipt steps for affected parties. If adopted, the Prakas would require regulated entities and professionals to follow specified forms and timelines when lodging appeals against penalties issued by ACAR.
Official Source
Source: Accounting and Auditing Regulator (ACAR) public post, 9 September 2026. Original announcement published on ACAR social channel: https://www.facebook.com/acarcambodia/posts/pfbid031BzKRPKXQbn98a9d7fd2ExcwKw5439cqjLKvhKq2M6LskFCtJSx21Br2RyUqtEQZl
