A regular in-person meeting of the Advisory organ

The Ministry of Finance of the Republic of Kazakhstan held a regular in-person meeting of the Advisory organ.

Two issues were put on the agenda of the meeting of the Advisory organ.

Problems of applying IFRS 20 «Accounting for state subsidies and disclosure of information on state aid».

Experts in the field of accounting and auditing discussed some provisions of the legislation on state property that make it difficult for organizations with state participation to apply IFRS 20.

Based on the results of the discussion, further elaboration of the issue and consideration of the possibility of amendments to the relevant legislation are recommended.

Also, the members of the Advisory organ discussed problematic issues in the field of accounting and financial reporting. In particular, the current system of certification and professional development of professional accountants with a vision of its development for future years was discussed.

It is recommended to continue the discussion on this issue in a wider professional circle.