The Accounting and Auditing Regulator (ACAR) of the Non-Bank Financial Services Authority (NBFSA) released a notification on June 4, 2024, regarding the Royal Government's decision for public and private educational institutions to fulfill their auditing and accounting obligations. Following a decision made by the Royal Government four days prior, during a meeting between the prime minister and representatives of the Cambodian Higher Education Association, this notification is applicable to both public and private educational institutions, or "Institutions" for short.

The Institutions must additionally comply with the following even though ACAR will be enforcing transitional sanctions, which will be extended until the end of 2028:

• fulfill your responsibilities to maintain accurate accounting records,
• set up annual financial statements, and
• submit them to the ACAR.

It is crucial to remember that every institution should voluntarily create a suitable plan in order to take part in accounting standards research and training sessions conducted by the ACAR and other training organizations.