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IFRS for SMEs in Cambodia

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02 Mar 2010

In Cambodia, both the Company Law and the Accounting Law require all companies to prepare annual financial statements, and large companies are required to be audited.

In January 2009, the National Accounting Council (NAC) of the Ministry of Economy and Finance of Cambodia adopted full IFRSs as issued by the IASB. The NAC has now made the IFRS for SMEs an option for all companies in Cambodia except for 'public interest entities' (financial institutions, publicly traded entities, and large entities), which must use full IFRSs.


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