PHNOM PENH: The Accounting and Auditing Regulator (ACAR) issued a notification on the launch of a function that allows for the online submission of 2021 annual financial statements for not-for-profit entities (E-Filing for NFPEs), on 12 August 2022.

This notification was made pursuant to the Guidance No.010 ACAR dated 15 March 2022 stating that, not-for-profit entities must submit the annual financial statements to ACAR in compliance with the law and effective relevant regulations.

In order to promote the effective implementation of this obligation, ACAR is informing not-for-profit entities of the launch of a function to submit 2021 financial statements online. The notification states the following deadlines for the entities:

1. Entities Not Subject to Independent Audit: must submit the financial statements to ACAR before 15 September 2022.

2. Entities Subject to Independent Audit: must submit the financial statements to ACAR before 30 September 2022.

Not-for-profit entities are reminded that the form and procedures for filing the financial statements must follow the Guidance No.042 ACAR/SNN dated 7 June 2022. For more information, entities can contact ACAR officials by phone number and Telegram at the following numbers: 085 904 848 / 085 444 488 / 081 644 663 / 089 508 567.

The notification adds, "For failure or delay in fulfilling the above-mentioned obligations, entities must be punished as stated in the Sub-Decree No.79 ANKr.BK dated 01 June 2020 on Transitional Sanctions for the Violation of the Law on Accounting and Auditing.”