ABSTRACT
Cambodia is an important player in South East Asia given its geographic location in the lower Mekong region between Thailand in the west, Vietnam in the east and Laos in the north. Cambodia moved towards a market economy with the new constitution in 1993. This chapter discusses the regulation of the capital market. It elaborates on some issues related to accounting policy making and focuses on auditing standards. The chapter introduces the accounting profession in Cambodia. Accounting in the public sector has been under the administration of the Law on Financial Management since 2000. The law contains general provisions on the revenue and expenditure of the state budgets. The development of the capital market has also resulted in reforms to the accounting profession. Accounting in Cambodia is also subject to the influence of international institutions such as the International Accounting Standards Board (IASB).
