.

Cambodia

Head of State  : His Majesty King Norodom Sihamoni

Head of Government  : Prime Minister Hun Sen

Capital             : Phnom Penh

Language(s)    : Khmer

Currency         : Riel

0
ASEAN CPA
Download List : here

Profile of the Country

Information of The Country
Professional Associations
Qualifying as an Accountants
Setting Up an Accountancy Practice
In Cambodia, active members of KICPAA may start up a firm to practice their profession. The conditions and requirement of sole proprietorship must be met as follow:
  • Registered with Ministry of Commerce then submit the latest memorandum of article of association and certificate of incorporation to KICPAA;
  • Contact tax department to get Value Added Tax (VAT) and Patent; then submit to KICPAA;
  • Owner must be active member of KICPAA; and
  • The company is recognised as being authorised to practice the profession of public accountant by KICPAA.
 
The conditions and requirement of Partnership Company must be met as follow:
  • Registered with Ministry of Commerce then submit the latest memorandum of article of association and certificate of incorporation to KICPAA;
  • Contact tax department to get VAT and Patent; then submit to KICPAA;
  • The majority of partners are active members of KICPAA and hold majority of the share capital;
  • Chairman, executive director, managers or delegated officers shall be selected among the partners who are active member of KICPAA;
  • It is not directly or indirectly under the controlled of any person or group of enterprises whose company objective is not related to accounting; and
  • It does not directly or indirectly hold any financial share in industrial enterprises, commercial, agricultural or civil society businesses except for company whose objective related to accounting.
 
In case of a share company, further conditions shall apply as follows:
  • Has the list of the partners and the admission of any new partners shall be subject to prior authorisation from either the board of directors of the company or from the majority of the shareholders; and
  • It conveys to the Governing Council of KICPAA the list of the partners as any change to such list, and retains this information similarly available to the public authorities and all concerned third parties.
 
All types of the company are required to apply for permission from the Ministry of Economy and Finance before practicing auditing services in Cambodia
Law and Regulations on Accountancy Practice
Specific Regulation
Monitoring Committee

Regulated Accounting Services

Auditing as a Public Practice
NAB Membership and/or PRA Registration

NAB Requirement :

Yes, must be an active member of KICPAA.


PRA Requirement :

Yes. Auditing service is required to have practicing license from NAC/MEF.


NAB Membership and/or PRA Registration Requirement
(such as examination, test, recognised qualifications, etc)

NAB Requirement :

To be an active member of KICPAA that individual require:

  1. Be of Cambodian nationality;
  2. Be more than twenty five (25) years old on the day of admission as a member of the Institute;
  3. Be in full possession of civil rights;
  4. Not have been found guilty for any crime or offence witnessed by a clean record delivered by the relevant authorities;
  5. Hold the certified public accountant diploma or a diploma deemed equivalent by the Registration Committee of certified public accountants and statutory auditors.
  6. Have at least 3 year experience in the accounting or auditing area in accounting or auditing firm.
  7. Hold practising certificate (for auditing service)
  8. Be a good standing member of the institute of CPA
  9. Work permit from Ministry of Labour and Vocational Training (only for foreigner)

In addition, currently, for foreigners, who are qualified and admitted as KICPAA members, are also required to pass exam on Cambodian Taxation and Cambodian Business Law after 2 years of admission date.


PRA requirement :

All audit firms which are admitted as active members of KICPAA are required to submit their requests for practising authorization from the National Accounting Council.


Citizenship Requirement

Yes, only for Cambodian Citizens.
(For Foreigners, special temporary permits must be secured from the NAC)


Eligibility Requirement, Where Applicable (ASEAN CPA/RFPA)

Open to Registered Foreign Professional Accountant (RFPA)
(Subject to review in 2019)


Accounting Services

Non-Regulated Accounting Services

Professional Accountant in Business
NAB Membership and/or PRA Registration

Not applicable


NAB Membership and/or PRA Registration Requirement

(such as examination, test, recognised qualifications, etc)

Not Applicable


Citizenship Requirement

Not Applicable


Eligibility requirement, where applicable

Open to ASEAN CPA / Registered Foreign Professional Accountant (RFPA)

 

© 2019 ACPACC Secretariat. All Rights Reserved.