About the product
Blue Chartered offers a financial statements audit that provides assurance over the information required by stakeholders such as investors, shareholders, and regulators.
On 25 May 2021, the Ministry of Economy and Finance issued a notification (Prakas) Prakas no. 563 MEF. Prk on Obligation to Submit Financial Statements for Independent Audits, which is in line with the Law on Accounting and Auditing 2016, required:
1) All Public Enterprises, Public Limited Enterprises, and Qualified Investment Projects (QIP) must submit their financial statements for an independent audit.
2) Enterprises other than those listed in number 1 above and meet two of the three criteria below need to submit their financial statements for an independent audit.
- Annual turnover above 4,000,000,000 KHR (approximately US$1,000,000)
- Total assets above 3,000,000,000 KHR (approximately US$750,000)
- Total employees at least 100 employees
3) Non-profit organizations with total annual expenses exceeding KHR 2 billion (Equivalent to USD500,000) and having a total of at least 20 employees must submit their financial statements for an independent audit.
The entity that meets the above criteria should have its financial statements audited by an independent audit firm and submitted to Accounting and Auditing Regulator (“ACAR”) no later than six months from the accounting closing date.
Our professional audit team has enough experience and expertise in accounting, financial reporting, and auditing that could carry out our audit effectively and efficiently.
Our risk-based audit approach helps us put our effort more into the assessed risks of material misstatements at the financial statement and assertion level. This approach helps us to achieve our audit objective with minimal effect on the client’s time.
On 25 May 2021, the Ministry of Economy and Finance issued a notification (Prakas) Prakas no. 563 MEF. Prk on Obligation to Submit Financial Statements for Independent Audits, which is in line with the Law on Accounting and Auditing 2016, required:
1) All Public Enterprises, Public Limited Enterprises, and Qualified Investment Projects (QIP) must submit their financial statements for an independent audit.
2) Enterprises other than those listed in number 1 above and meet two of the three criteria below need to submit their financial statements for an independent audit.
- Annual turnover above 4,000,000,000 KHR (approximately US$1,000,000)
- Total assets above 3,000,000,000 KHR (approximately US$750,000)
- Total employees at least 100 employees
3) Non-profit organizations with total annual expenses exceeding KHR 2 billion (Equivalent to USD500,000) and having a total of at least 20 employees must submit their financial statements for an independent audit.
The entity that meets the above criteria should have its financial statements audited by an independent audit firm and submitted to Accounting and Auditing Regulator (“ACAR”) no later than six months from the accounting closing date.
Our professional audit team has enough experience and expertise in accounting, financial reporting, and auditing that could carry out our audit effectively and efficiently.
Our risk-based audit approach helps us put our effort more into the assessed risks of material misstatements at the financial statement and assertion level. This approach helps us to achieve our audit objective with minimal effect on the client’s time.
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