From 11 to 13 August 2010, there is a workshop on "
International Financial Reporting Statdards-IFRS " which is co-organized by the NAC
and the ACCA. The workshop opening ceremony is presided over by H.E Ngy Tayi, Secretary of State of MEF and Chairman of the NAC. Two ACCA's managements are invited to provide the presentation on IFRSs. There are approximately 70 participants from various sector of businesses doing business in Cambodia and from SECC and MEF's departments.
During this workshop, H.E Ngy Tayi give his remarks on the importance of the IFRS in ensuring the financial sector improvement and sustainable economic development in Cambodia in the context of the opening of stock exchanges in Cambodia in July 2011.
Public Consultation on the Draft Prakas on " Implementation of Financial Reporting Standards for Securities Issuers "
In 5 August 2010, at Sunway Hotel, there was a public consultation on the Draft Prakas on " Implementation of IFRS for Securities Issuers , co-organized by the Securities and Exchanges Commission of Cambodia and the National Accounting Council. The PC was presided over by H.E Ngy Tayi, Secretary of State of the MEF and Chairman of the NAC, as the representative of H.E Keat Chhon, Deputy Prime Minister, Minister of Economy and Finance.
This PC is organized to response to the need of the existence of securities market in the near future.
In conclusion, many firms provided their comments that the securities issuers should implement full IFRS.
Training on CIFRSs for General Tax Department's Staff
From August 02-10 2010, there is a training on CIFRSs for the staff from the General Tax Department and will be organized by the National Accounting Council under the program loan of ABD. This is the second time of training for GTD's staff on CIFRSs and it is the implementation of the NAC's Action Plan for 2010. According to the decision of H.E Keat Chhon, Deputy Prime Minister, Minister of Economy and Finance, the NAC will have more trainings on CIFRSs and also CIFRS for SMEs especially for the staff from General Tax Department, both in head office and from municipality/provincial branches, and for other public and private sectors. It is noted that the last two standards were fully adopted by the NAC by 2009. The first will become into effect by January 01, 2012 and the second will be applied from January 01, 2010 onward.