Article 16. International Financial Reporting Standards and the Code of Ethics of the Law on Accounting and Financial Reporting

Home / RLA / Article 16. International Financial Reporting Standards and the Code of Ethics of the Law on Accounting and Financial Reporting

1. Financial statements are prepared by organizations in accordance with international standards and the international standard for small and medium-sized businesses.

2. International standards and the international standard for small and medium-sized businesses may be published in the official language and, if necessary, in Russian by an organization that has written permission for their official translation and (or) publication in the Republic of Kazakhstan from the Foundation for International Financial Reporting Standards.

Professional accountants, accounting and professional organizations are required to carry out their activities in accordance with the Code of Ethics. The Code of Ethics may be published in the official language and, if necessary, in Russian by an organization that has written permission for its official translation and/or publication in the Republic of Kazakhstan from the International Federation of Accountants.

The Law of the Republic of Kazakhstan dated February 28, 2007 No. 234.

This Law regulates the accounting and financial reporting system in the Republic of Kazakhstan, establishes the principles, basic qualitative characteristics and rules of accounting and financial reporting.

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