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Extent of IFRS applicationStatusAdditional Information
IFRS Accounting Standards are required for domestic public companies IFRS Accounting Standards are required for publicly accountable entities, including listed entities, banks, deposit-taking financial institutions and insurance companies.

An exception has been granted for the adoption of IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts. Insurance companies will be required to apply these Standards for periods beginning on or after 1 January 2028. Early application is permitted.

IFRS Accounting Standards are permitted but not required for domestic public companies
IFRS Accounting Standards are required or permitted for listings by foreign companies Required.
The IFRS for SMEs Accounting Standard is required or permitted Required for some, permitted for others.

The IFRS for SMEs Accounting Standard is available for use by all SMEs. However, its use is mandatory only for SMEs subject to a statutory audit.

The IFRS for SMEs Accounting Standard is under consideration

Profile last updated: 08 May 2025

RELEVANT JURISDICTIONAL AUTHORITY

Organisation
Accounting and Auditing Regulator (ACAR)
Role of the organisation
The ACAR is the accounting and auditing standard-setter and regulator. In 2021 the Law on Organization and Functioning of Non-Bank Financial Authority replaced the National Accounting Council with the ACAR.
Website
https://www.acar.gov.kh/
Email contact

H.E. Bou Tharin, Director General

b.tharin@acar.gov.kh

info@acar.gov.kh

COMMITMENT TO GLOBAL FINANCIAL REPORTING STANDARDS

Has the jurisdiction made a public commitment in support of moving towards a single set of high quality global accounting standards?
Yes.
Has the jurisdiction made a public commitment towards IFRS Accounting Standards as that single set of high quality global accounting standards?

Yes.

The ACAR has fully adopted IFRS Accounting Standards and the IFRS for SMEs Accounting Standard without modifications.

The adoption was announced in a Ministry of Economy and Finance proclamation (in Cambodia referred to as a ‘Prakas’) in January 2009. The Standards were renamed ‘Cambodian International Financial Reporting Standards’ (CIFRS). An August 2009 announcement from the Ministry of Economy and Finance requires companies to apply CIFRS and Cambodian International Financial Reporting Standards for SMEs (CIFRS for SMEs) for periods beginning on or after 1 January 2012.

What is the jurisdiction’s status of adoption?
Cambodia has adopted IFRS Accounting Standards and the IFRS for SMEs Accounting Standard.
Additional comments provided on the adoption status?

Mandatory implementation of IFRS Accounting Standards for commercial banks and financial institutions started for periods beginning on or after 1 January 2016.

Microfinance companies that are engaged in deposit taking (referred to as ‘microfinance deposit-taking institutions’ or ’MDIs’) are required to apply CIFRS. Those that are non-deposit taking (only engaged in lending) are permitted to apply CIFRS for SMEs.

The Ministry of Economy and Finance later allowed the banking sector to apply CIFRS for periods beginning on or after 1 January 2019.

The ministry granted an exception for the adoption of IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts. Insurance companies will be required to apply these Standards for periods beginning on or after 1 January 2028. Early application is permitted.

If the jurisdiction has NOT made a public statement supporting the move towards a single set of accounting standards and/or towards IFRS Accounting Standards as that set of standards, explain the jurisdiction's general position towards the adoption of IFRS Accounting Standards in the jurisdiction.
Not applicable.

EXTENT OF IFRS APPLICATION

For DOMESTIC companies whose debt or equity securities trade in a public market in the jurisdiction:

Are all or some domestic companies whose securities trade in a public market either required or permitted to use IFRS Accounting Standards in their consolidated financial statements?
Yes.
If YES, are IFRS Accounting Standards REQUIRED or PERMITTED?
Required.
Does that apply to ALL domestic companies whose securities trade in a public market, or only SOME? If some, which ones?
All.
Are IFRS Accounting Standards also required or permitted for more than the consolidated financial statements of companies whose securities trade in a public market?
Yes.
For instance, are IFRS Accounting Standards required or permitted in separate company financial statements of companies whose securities trade in a public market?
Required.
For instance, are IFRS Accounting Standards required or permitted for companies whose securities do not trade in a public market?
IFRS Accounting Standards are required for publicly accountable entities, including listed entities, banks, deposit-taking financial institutions and insurance companies. Other companies are permitted to apply IFRS Accounting Standards or the IFRS for SMEs Accounting Standard.
If the jurisdiction currently does NOT require or permit the use of IFRS Accounting Standards for domestic companies whose securities trade in a public market, are there any plans to permit or require IFRS Accounting Standards for such companies in the future?
Not applicable.

For FOREIGN companies whose debt or equity securities trade in a public market in the jurisdiction:

Are all or some foreign companies whose securities trade in a public market either REQUIRED or PERMITTED to use IFRS Accounting Standards in their consolidated financial statements?
Yes.
If YES, are IFRS Accounting Standards REQUIRED or PERMITTED in such cases?
Required.
Does that apply to ALL foreign companies whose securities trade in a public market, or only SOME? If some, which ones?
All.

IFRS ENDORSEMENT

Which IFRS Accounting Standards are required or permitted for domestic companies?
Non-publicly accountable domestic companies have a choice between applying IFRS Accounting Standards and IFRS for SMEs Accounting Standard, which are adopted without modification as Cambodian International Financial Reporting Standards (CIFRS) and Cambodian International Financial Reporting Standards for SMEs (CIFRS for SMEs). Publicly accountable domestic companies are required to use CIFRS.
The auditor’s report and/or the basis of presentation footnote states that financial statements have been prepared in conformity with:
The audit report is required to state compliance with CIFRS. However, the audit report is permitted to also refer to compliance with IFRS Accounting Standards in addition to compliance with CIFRS.
Does the auditor's report and/or the basis of preparation footnote allow for ‘dual reporting’ (conformity with both IFRS Accounting Standards and the jurisdiction’s GAAP)?
Yes.
Are IFRS Accounting Standards incorporated into law or regulations?
Yes. The regulations setting IFRS Accounting Standards and the IFRS for SMEs Standard as CIFRS and CIFRS for SMEs without modification can be found on the Accounting and Auditing Regulator (ACAR) website.
If yes, how does that process work?
By law, accounting standards are set by the ACAR, a body under the Non-Bank Financial Services Authority.
If no, how do IFRS Accounting Standards become a requirement in the jurisdiction?
Not applicable.
Does the jurisdiction have a formal process for the 'endorsement' or 'adoption' of new or amended IFRS Accounting Standards (including Interpretations) in place?
No. The only exception is the adoption of IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts, for which insurance companies are permitted to defer implementation to periods beginning on or after 1 January 2028.
If yes, what is the process?
Not applicable.
If no, how do new or amended IFRS Accounting Standards become a requirement in the jurisdiction?
The ministerial proclamation that originally adopted IFRS Accounting Standards is worded so that all new Standards, amendments to Standards and IFRIC® Interpretations are automatically adopted without any additional adoption or endorsement process.
Has the jurisdiction eliminated any accounting policy options permitted by IFRS Accounting Standards and/or made any modifications to any IFRS Accounting Standards?
No.
If yes, what are the changes?
Not applicable.
Other comments regarding the use of IFRS Accounting Standards in the jurisdiction?
None.

TRANSLATION OF IFRS ACCOUNTING STANDARDS

Are IFRS Accounting Standards translated into the local language?

The IFRS for SMEs Accounting Standard has been translated to and issued in Khmer (the Cambodian language).

There is no Khmer translation of IFRS Accounting Standards and companies access these Standards in English.

If they are translated, what is the translation process? In particular, does this process ensure an ongoing translation of the latest updates to IFRS Accounting Standards?
IFRS Accounting Standards and the IFRS for SMEs Accounting Standard are translated by technical team of the Accounting and Auditing Regulator (ACAR). The ACAR has a copyright agreement with the IFRS Foundation. The ACAR is working on creating, updating and revising many related regulations, including the Translation Review Committee.

APPLICATION OF THE IFRS FOR SMEs ACCOUNTING STANDARD

Has the jurisdiction adopted the IFRS for SMEs Accounting Standard for at least some SMEs?
Yes. The IFRS for SMEs Accounting Standard is available for use by all SMEs. However, its use is mandatory only for SMEs subject to a statutory audit.
If no, is the adoption of the IFRS for SMEs Accounting Standard under consideration?
Not applicable.
Did the jurisdiction make any modifications to the IFRS for SMEs Accounting Standard?
No.
If the jurisdiction has made any modifications, what are those modifications?
Not applicable.
Which SMEs use the IFRS for SMEs Accounting Standard in the jurisdiction, and are they required or permitted to do so?
All SMEs are permitted to use the IFRS for SMEs Accounting Standard. However, only SMEs subject to a statutory audit are required to use the IFRS for SMEs Accounting Standard. Non-publicly accountable SMEs subject to a statutory audit have a choice of applying either the IFRS for SMEs Accounting Standard or full IFRS Accounting Standards. The statutory audit is required when a company meets a certain threshold of revenue, asset value and number of staff.
For those SMEs that are not required to use the IFRS for SMEs Accounting Standard, what other accounting framework do they use?
SMEs are not required to use the IFRS for SMEs Accounting Standard if they do not meet the threshold criteria for a statutory audit. However, SMEs are encouraged to follow the IFRS for SMEs Accounting Standard.
Other comments regarding use of the IFRS for SMEs Accounting Standard?
None.