Article 19. Presentation of financial statements of the Accounting and Financial Reporting Act

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1. Organizations submit financial statements:

1) to the founders (participants) in accordance with the constituent documents;

2) to the authorized body in the field of state statistics at the place of state registration;

3) bodies of state control and supervision of the Republic of Kazakhstan in accordance with their competence;

4) their main organization, in relation to which they are subsidiaries, in accordance with the procedure determined by the main organization, including the list, forms and deadlines.

2. Financial statements are presented in the national currency of the Republic of Kazakhstan.

3. Organizations, with the exception of organizations that are subject to the requirements of paragraph 3-1 of this Article, submit annual financial statements no later than April 30 of the year following the reporting year.

3-1. Financial organizations (with the exception of legal entities operating exclusively through exchange offices on the basis of a license from the National Bank of the Republic of Kazakhstan for exchange operations with foreign currency in cash, and legal entities whose exclusive activity is the collection of banknotes, coins and valuables) submit annual financial statements within the time limits established by the National Bank of the Republic of Kazakhstan by agreement with the authorized body for regulation, control and supervision of the financial market and financial organizations.

4. Within the time period specified in Article 18 of this Law, the founders (participants) have the right to determine the deadlines for the submission of interim financial statements and to establish a different frequency, but at least once a year.

4-1. To ensure transparency and reliability of the data included in the consolidated financial statements, the parent organization has the right to determine the procedure for the application by subsidiaries of a single accounting policy, inventory of property of subsidiaries and other issues related to transparency and reliability of financial reporting data of subsidiaries.

5. Consolidated financial statements are presented in accordance with paragraphs 1, 2, 3, 3-1 and 4-1 of this article.

6. Excluded by the Law of the Republic of Kazakhstan dated 24.11.2015 No. 422-V (effective from 01.01.2016).

7. By decision of the Government of the Republic of Kazakhstan, a depository is being established for public interest organizations that are required to submit financial statements to it in accordance with the procedure determined by the authorized body.

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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