Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA)

The quality assurance (QA) review system in Cambodia is operated by the Audit Quality Monitoring Committee under the authority of the Accounting and Auditing Regulator (ACAR) and the Ministry of Economy and Finance. The system has resumed following earlier pilot inspections and is reported by the Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) to be aligned with SMO 1 requirements.

KICPAA supports implementation through member training, practical workshops, and continuing professional development focused on audit quality and quality management. Since the previous assessment, KICPAA has continued to offer training on International Standard on Quality Management 1, International Standard on Quality Management 2, and International Standard on Auditing 220 (Revised), including a dedicated 2025 workshop on practical adaptations for Cambodian audit professionals.

ACAR has adopted and published International Standard on Quality Management 1, International Standard on Quality Management 2, and International Standard on Auditing 220 (Revised), supporting the shift from quality control to quality management within the jurisdiction’s audit quality framework.

Given the operational QA system, adoption of the relevant quality management standards, and KICPAA’s sustained support to members through continuing professional development and implementation guidance, KICPAA is assessed as using best endeavors to support the effective operation of the jurisdiction-level QA system. Accordingly, fulfillment of SMO 1 is assessed as Sustain.

Current Status: Sustain

The Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) has direct responsibility for establishing initial professional development and continuing professional development requirements for its members. Membership requirements include completion of the Cambodia Certified Public Accountant qualification or a professional accounting qualification accredited by KICPAA, together with relevant practical experience requirements.

Since the previous assessment, KICPAA has continued to operationalize national education pathways. The Cambodia Certified Public Accountant qualification was launched in collaboration with the Accounting and Auditing Regulator and with technical support from the Institute of Chartered Accountants in England and Wales, and KICPAA has undertaken further planning through the 2025–2030 development plan for the qualification. KICPAA also continues to implement the Accounting Technician Qualification, which was developed with technical support from the Institute of Chartered Accountants in England and Wales and support from the United Nations Development Programme, and has promoted the program through training-of-trainers activities and student orientations with education providers.

KICPAA requires active members to complete at least 120 hours of continuing professional development over a three-year period and continues to offer continuing professional development programs on technical, regulatory, and emerging topics.

Given the operational Cambodia Certified Public Accountant qualification, continued implementation of the Accounting Technician Qualification, established continuing professional development requirements, and sustained engagement with regulators, education providers, and international partners, KICPAA is assessed as undertaking ongoing actions aligned with the requirements of SMO 2. Accordingly, fulfillment of SMO 2 is assessed as Sustain.

Current Status: Sustain

The Accounting and Auditing Regulator (ACAR), under the Ministry of Economy and Finance, is responsible for adopting auditing standards in Cambodia. ACAR’s standards portal includes Cambodian auditing and assurance standards, quality management standards, and the 2022 ministerial proclamation on the adoption of standards related to auditing. It also includes International Standard on Quality Management 1, International Standard on Quality Management 2, and International Standard on Auditing 220 (Revised).

The Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) supports implementation through its participation in the regulatory framework and through member training and practical resources. Since the previous assessment, KICPAA has continued to offer continuing professional development on audit practice and related topics, including the Audit Practice Manual in 2024 and 2025, and quality management training on International Standards on Quality Management in 2025.

KICPAA has also continued to support awareness of new and revised auditing pronouncements. ACAR has published the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities and related overview materials; this does not affect the International Standards on Auditing adoption rating but demonstrates continued attention to new International Auditing and Assurance Standards Board developments.

Given the adoption of International Standards on Auditing and related International Auditing and Assurance Standards Board pronouncements, together with KICPAA’s sustained member support through continuing professional development, practical tools, and engagement with ACAR, KICPAA is assessed as undertaking ongoing actions aligned with the requirements of SMO 3. Accordingly, fulfillment of SMO 3 is assessed as Sustain.

Current Status: Sustain

The Accounting and Auditing Regulator (ACAR), under the Ministry of Economy and Finance, is responsible for adopting ethical requirements for professional accountants in Cambodia. The International Code of Ethics for Professional Accountants (including International Independence Standards) is adopted for application in the jurisdiction, and the Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) makes the Code of Ethics for Professional Accountants and Auditors available through its website.

KICPAA supports implementation through continuing professional development and member guidance. Since the previous assessment, KICPAA has continued to offer ethics-related training, including a dedicated Code of Ethics webinar as part of its continuing professional development program, and its technical committees provide support on ethics, governance, accounting, auditing, and assurance matters.

Given the adoption of the Code, KICPAA’s role in promoting ethical requirements, and its sustained member support through continuing professional development and technical activities, KICPAA is assessed as undertaking ongoing actions aligned with the requirements of SMO 4. Accordingly, fulfillment of SMO 4 is assessed as Sustain.

Current Status: Sustain

The Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) has no direct responsibility for the adoption of public sector accounting standards, which are established by the Accounting and Auditing Regulator under the Ministry of Economy and Finance. Cambodia continues to implement its phased roadmap toward accrual-basis International Public Sector Accounting Standards through the Strategy for Implementation of Cambodia Public Accounting Standards, Accrual Basis 2019–2031.

KICPAA continues to support implementation through awareness raising, training, and collaboration with regulators and international partners. The institute has historically partnered with the Institute of Chartered Accountants in England and Wales and other stakeholders to support International Public Sector Accounting Standards awareness and training activities for public sector stakeholders. KICPAA also continues to disseminate updates and technical information relevant to public sector accounting developments through its continuing professional development activities and technical engagement with the profession.

The jurisdiction-level roadmap toward accrual-basis International Public Sector Accounting Standards remains ongoing and full accrual adoption has not yet been achieved. Nevertheless, KICPAA continues to demonstrate best endeavors through ongoing promotion, stakeholder engagement, and implementation support activities related to public sector accounting reform. Accordingly, fulfillment of SMO 5 is assessed as Review & Improve.

KICPAA is encouraged to continue strengthening its participatory and advocacy role in the implementation of the national public sector accounting roadmap, including supporting capacity building and practical implementation guidance for public sector stakeholders as Cambodia progresses toward accrual-basis International Public Sector Accounting Standards.

Current Status: Review & Improve

The investigation and discipline (I&D) system in Cambodia is established through the Law on Accounting and Auditing, related implementing regulations, and the By-Law of the Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA). The Accounting and Auditing Regulator (ACAR) has authority to impose disciplinary measures and administrative penalties on accountants and auditors that violate accounting and auditing laws and regulations, including suspension or withdrawal of licenses.

KICPAA has direct responsibility for establishing an I&D mechanism for its members. Its By-Law provides for an Investigation and Disciplinary Committee and sets out complaint-handling and sanctions procedures, including reprimands, fines, suspension, removal from membership, and referral to relevant authorities. KICPAA’s public committee information and 2024 corporate profile confirm the continued existence of the committee and its role in accepting and settling complaints.

Since the previous assessment, available public information indicates that KICPAA has maintained the committee and disciplinary framework, while ACAR continues to strengthen enforcement of accounting and auditing obligations through licensing and penalty mechanisms. However, public information does not yet demonstrate that the system fully incorporates all SMO 6 requirements, including separate investigation, discipline, and appeal functions, independent review of complaints with no follow-up, timeframe targets, tracking mechanisms, and publication or communication of disciplinary outcomes.

KICPAA is encouraged to finalize and approve its I&D Standard Operating Procedure, complete the SMO 6 self-assessment, and strengthen public information on procedures, case handling, appeals, and outcomes to demonstrate full alignment with SMO 6 requirements.

Current Status: Execute

The Accounting and Auditing Regulator (ACAR), under the Ministry of Economy and Finance, is responsible for adopting accounting standards in Cambodia. ACAR has adopted IFRS Accounting Standards without modification as Cambodian International Financial Reporting Standards, and publicly accountable entities are required to apply them in preparing financial statements. The IFRS Foundation notes that Cambodia has adopted IFRS Accounting Standards and the IFRS for SMEs Accounting Standard.

The Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) has no direct authority for adopting accounting standards but supports implementation through technical assistance, member guidance, and continuing professional development. Since the previous assessment, KICPAA has continued to provide IFRS-related training, including sessions on CIFRS for SMEs, IFRS S1 and IFRS S2, and sector-specific IFRS application. KICPAA also co-organized the Cambodia Accounting Forum 2025 with ACAR and ACCA Cambodia, focused on regulatory harmonization, sustainability reporting, and digital financial reporting.

Given the adoption of IFRS Accounting Standards and KICPAA’s sustained support to members through continuing professional development, technical engagement, and collaboration with ACAR and other partners, KICPAA is assessed as undertaking ongoing actions aligned with the requirements of SMO 7. Accordingly, fulfillment of SMO 7 is assessed as Sustain.

Current Status: Sustain