Measures to Reduce Requirements for the Use of Khmer Language in Accounting Records and Accounting Supporting Documents
(Notification no. 031/24 ACAR, dated 15 May 2024)
The Accounting and Auditing Regulator (ACAR) issued a Notification to provide incentives for enterprises and non-profit organizations to reduce their use of Khmer language in accounting records and supporting documents in accordance with the Royal Government's incentive measures for the private sector. Under the Notification, the Accounting and Auditing Regulators allows for the following:
1. Enterprises and non-profit organizations can use the English language in accounting records and accounting supporting documents without translation into the Khmer language, including for retrospective accounting periods.
2. Enterprises and non-profit organizations are required to translate any part or any point of those records or documents from English into Khmer language only upon a request from the Accounting and Auditing Officer during an inspection.
As a committed accounting advisor to our clients, we welcome any opportunities to discuss the relevance of the above matters to your business.
