The Non-Bank Financial Services Authority's Accounting and Auditing Regulator ("ACAR") published a notification on July 5, 2024, regarding new incentive programs for members of the Housing Development Association of Cambodia ("HDAC"). The following are this notification's main points:

1. Until the lump sum tax payment plan expires, HDAC members will not be subject to interim fines.
2. Expansion of the highly technical and timely research-required accounting and auditing duties, such as the following a. compliance with prevailing accounting standards; and b. submission of financial reports via independent audit.
3. HDAC members are expected to meet their obligations under ACAR, which include maintaining accurate accounting records, creating annual financial reports, and sending required financial reports to ACAR.
4. HDAC members should be committed to learning and research, as well as technical standard trainings conducted by ACAR and accredited training institutes. They should also have well-thought-out strategies for their participation.