ACAR announces postponement of provisional fines for Cambodian schools

Postponement and Implementation of Accounting and Auditing Obligations for Cambodian Educational Institutions

Accounting update 1/24

ACAR announces postponement of provisional fines for Cambodian schools

The Accounting and Auditing Regulator (ACAR) of the Non-Banking Financial Services Authority in Cambodia has announced a significant update affecting both public and private educational institutions. This follows the decision made by the Royal Government of Cambodia, as detailed in letter No. 716 from the Council of Ministers dated 31 March 2024. The decision focuses on the postponement of provisional fines and the reinforcement of accounting and auditing compliance among educational institutions. 

Postponement of Provisional Fines

The Royal Government has decided to postpone the implementation of provisional fines for public and private educational institutions until the end of 2028. This postponement provides additional time for these institutions to align their accounting and auditing practices with regulatory standards.

Compliance Requirements

To ensure robust compliance, educational institutions are required to:

  • Maintain Accurate Accounting Records: Institutions must diligently keep accurate and comprehensive accounting records.
  • Prepare Annual Financial Statements: Institutions are obligated to prepare financial statements on an annual basis, ensuring that their financial activities are transparently documented.\
  • Submit Financial Statements to ACAR: These annual financial statements must be submitted to ACAR for review and record-keeping.

Additional Responsibilities

Beyond these primary obligations, educational institutions are encouraged to actively participate in research and training related to accounting standards. This includes developing clear plans to engage in research and training activities and participating in training programs organized by ACAR and other training institutions.


The ACAR emphasizes the importance of these measures in enhancing the transparency and accountability of educational institutions in Cambodia. The management committees of both public and private schools are urged to take this notification seriously and to ensure effective implementation of these requirements.

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