Press release On the adoption of the order of the Minister of Finance of the Republic of Kazakhstan «On approval of the Rules for submitting financial statements by public Interest organizations to the Depository»

On January 28, 2022, No. 94, the Order of the Minister of Finance of the Republic of Kazakhstan «On approval of the Rules for submitting Financial Statements by public Interest organizations to the Depository» was adopted, which was registered with the Ministry of Justice of the Republic of Kazakhstan on January 31, 2022 No. 26686.

         This order was developed to implement the Law of the Republic of Kazakhstan «On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on the redistribution of powers between levels of Government», which provides for an amendment to paragraph 7 of Article 19 of the Law of the Republic of Kazakhstan «On Accounting and Financial Reporting».

         Within the framework of this Law, the competence to approve the Rules for submitting financial statements by public interest organizations to the depository is transferred from the Government of the Republic of Kazakhstan to the Ministry of Finance of the Republic of Kazakhstan.

         We draw your attention to the following standards:

         - providing opportunities for inactive and bankrupt organizations not to submit financial statements to the depository;

         - the establishment of the formation of financial statements using a personal account in online mode, instead of offline mode;

         - prohibition of replacement or deletion of financial statements and audit report submitted to the depository;

         - confirmation of the signing of financial statements with an electronic digital signature of the management and chief accountant of the organization, instead of the electronic digital signature of the organization.