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In July, 2010, the President of Turkmenistan issued a Decree approving the National Accounting and Audit Reform Program (NAARP). The Program aims to bring the national accounting and audit system in compliance with international standards and requirements of a market economy.
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.
According to a press release of the state news agency of Turkmenistan (THD) the President of Turkmenistan issued a Decree approving the programme for reforming the national accounting and audit system during a meeting of the Cabinet of Ministers of Turkmenistan, which was held on 9 July 2010.
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