Government has issued a deadline reminder for filing 2020 audited financial statement & audit report.

The Accounting and Audit Regulator of Non-Banking Financial Services Authority of the National Accounting Council issued a notification on 25 May 2021. The notification concerns the deadline for filing independent audited financial statement (FS) and audit report for the year 2020 to the Accounting and Auditing Regulators.

In accordance with Cambodian law, enterprises that meet the criteria below are subject to have their FS audited:

1. Public enterprises
2. Public limited companies
3. Qualified investment projects
4. Enterprises other than no.1, 2, 3 above are required to have their FS audited if they meet two of the following tests:
   • Annual turnover above KHR 4 billion (approximately USD 1,000,000)
   • Fiscal year-end total assets balance above KHR 3 billion riels (approximately USD 750,000)
   • More than an average 100 employees during the year

For enterprises that close FS as at 31 December 2020 or any date in second half of 2020, the deadline for filing independent audited FS and audit report is 15 July 2021. The submission can be done via E filing system which will be launched soon.

Failure to comply will subject to penalties set out in Sub-Decree No. 79 ANKr.BK dated 1 June 2020. These fines are up to KHR 20 Million for large taxpayers, KHR 16 million for medium taxpayers, and KHR 1. 6 million for non-profit organisations.