News

Socharakvatey Sith

05th - September, 2024

New ACAR Decision: Stricter Licensing Requirements for Accounting and Auditin...
The Accounting and Auditing Regulator (ACAR) of Cambodia has recently issued a new decision that significantly impacts the licensing process for accounting and auditing professionals. This column summarizes the key points of the decree and its implications for individuals and firms in the industry. Key Provisions of the Decree 1. Scope: The decree applies to both individuals and legal entities applying for or renewing accounting and auditing profession licenses. 2. Proper and Appropriate Criteria: Applicants must meet specific criteria outlined in the decree’s annex. These criteria aim to evaluate financial integrity, past penalties, and adherence to professional ethics. 3. Extended Application: For legal entities, the criteria apply not only to the entity itself but also to its employees, audit partners, ...