Comptabilitat al Kazakhstan

Accounting Rules

Tax Year

The financial year starts from 1st January and ends on 31st December of the same year.

Accounting Standards

According to the new Law, large business entities and organizations of public interests must prepare financial reports in accordance with IFRS. Other legal entities and individual entrepreneurs, at their discretion, may prepare financial reports in accordance with either IFRS or the National Accounting Standards, which generally refer to IFRS.

Accounting Regulation Bodies

Ministry of Finance

Accounting Reports

The accounting balance sheet is presented with shareholder capital and debts as liability, the latter will be broken down into long term and short term debts.
The income statement gives the priority to the referential of total production and classification of expenses per function.
(Russian model).

Publication Requirements

The law pertaining to companies in the Republic of Kazakhstan encourages companies to post up the operational accounts. The accounts should be established in national currency according to the new Russian accounting plan introduced in January 1992. Accounting should be held as per the standards in force but the companies do not have any obligations for the annual reports, except for financial reports.

Professional Accountancy Bodies

Chamber of Auditors of the Republic of Kazakhstan

Certification and Auditing

There is no formal obligation for the audit, except for registration of daily activity. However, the rights, obligations and qualifications of auditors tend to be more and more specific and subjected to laws and regulations.  Certain companies must undergo an annual statutory audit (banks, insurance companies, pension funds, and other financial institutions, joint stock companies, and companies operating under an investment contract concluded with the State). An audit company of their choice can perform this audit. Sometimes, however, it may be required that a statutory audit is performed by a Big 4 audit firm.
You can contact an external auditor: Deloitte, Ernst & Young, PricewaterhouseCoopers, KPMG.

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