Is your audit provider delivering the audit value you deserve?
According to Cambodian law, an audit refers to a systematic and independent examination of data, statements, records, operations and performances (financial or otherwise) of an enterprise, not-for-profit organization and/or an institution for a stated purpose.
Audit services are essential to establish credibility and build reputation - critically important assets in a global economy undermined by business scandals on multiple continents. Companies that successfully address audit issues improve the quality of their financial reporting and stand to gain credibility with stakeholders like shareholders, bankers and suppliers.
We can enhance your credibility by providing you the independent opinion of a renowned and trusted audit firm. Furthermore, many senior executives and audit committees look to Crowe Global member firms for efficient procedures, the value of their work, and personal service. Your organization stands to gain in multiple areas - reputation, insight, service, and cost - by finding experienced auditors who truly value your business. Please feel free to contact our office with any questions regarding audit services.
Audit requirements in Cambodia
- An audit is a mandatory statutory requirement for any company that meets any two of the following three criteria:
- Annual turnover of 4,000,000,000 Riel or more
- Total asset value of 3,000,000,000 Riel or more
- Number of employees of 100 or more.
- Companies with a turnover exceeding Riel 2 billion and seeking a waiver from Minimum Tax have to submit an audit report prepared by an independent auditor to the GDT.
- Audit reports shall be prepared in the Khmer language with English as the accompanying language.
- Accounting records and financial statements shall be in the Khmer language and expressed in Khmer Riel. Enterprises or not-for profit organisations (NPO) which have regular transactions with foreign entities, are allowed to prepare their accounting records and financial statements in English and use a foreign currency to accompany the accounting records and financial statements.
- An Enterprise or NPO can choose the Khmer Riel or another foreign currency as the functional currency depending on the accounting policy adopted in their financial reporting.
- Enterprises and NPOs are required to prepare their financial statements within 3 months following the end of the financial year.
Our audit services include the following:
