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Kazakhstan

Financial reporting framework in Kazakhstan

Companies other than banks

Starting 1 January 2005, IFRSs required for all joint stock companies. This includes all listed companies plus some others.

Starting 1 January 2006, IFRSs required for other companies with significant public interest, including extractive industry companies and companies with Governmental ownership.

All banks

Some banks and financial institutions in Kazakhstan were required to implement IFRSs beginning in 2003. Further, banks in Kazakhstan that chose to participate in that country's deposit insurance fund have been required to prepare financial statements using IFRSs as well as Kazakh reporting standards. Starting in 2004, all banks are required to participate in the deposit insurance programme. Therefore, all Kazakh banks began preparing IFRS financial statements for 2004.

Related news

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  • Nov 25, 2013

  • An agenda has been released for the fifth meeting of the Asian-Oceanian Standards Setters Group (AOSSG), which is being held in Colombo, Sri Lanka on 27-28 November 2013. Representatives from many of the 26 countries which are currently members of AOSSG will attend the meeting, as will representatives from the International Accounting Standards Board (IASB). The meeting will include discussion on a number of IASB projects, consider the results of a survey conducted by the AOSSG on accounting and Islamic finance in the Middle East and North Africa, receive feedback on the IFRS implementation efforts and regional capacity building, and consider ongoing membership and process requirements.

  • Conference on IFRS adoption and implementation in former Soviet republics in Europe and Central Asia

  • May 16, 2013

  • International Federation of Accountants (IFAC), International Auditing and Assurance Standards Board (IAASB), and International Accounting Standards Board (IASB) are holding a two-day conference on 16-17 May 2013 to bring together representatives from national organisations of former Soviet republics in Europe and Central Asia. The event provides experiences regarding the application of International Financial Reporting Standards (IFRS), International Standards on Auditing (ISAs), and quality assurance requirements. Also, it provides representatives a forum to discuss topics relating to their jurisdiction.

  • IASB meets with CIS and Baltic States for IFRS update

  • Nov 30, 2011

  • On 28 and 29 November 2011, members of the IFRS Foundation and the IASB met with representatives of professional accounting and auditing bodies and ministries from the Commonwealth of Independent States (CIS) and the Baltic States.

  • More than 70 jurisdictions apply ISAs

  • Jul 11, 2011

  • On June 30 2011, Prof. Arnold Schilder, the Chairman of the IAASB, delivered a speech on global progress in the use of the Clarified International Standards on Auditing (ISAs) at the 2011 annual conference on Accounting and Accountability for Regional Economic Growth in Latin America and the Caribbean (referred to as CReCER after its Spanish/Portuguese acronym).

  • A Driving Wind for IFRS from Asia-Oceania

  • Jun 08, 2011

  • The Asian-Oceanian Standard-Setters Group (AOSSG) has published today "A Vision Paper of the Asian-Oceanian Standard-Setters Group 2011 — A Driving Wind for IFRS from Asia-Oceania".

  • All banks in Kazakhstan must use IFRSs

  • Oct 28, 2004

  • For several years, banks in Kazakhstan that chose to participate in that country's deposit insurance fund have been required to prepare financial statements using IFRSs as well as Kazakh reporting standards.