of June 20, 2025 No. 122
About modification of some legal acts of the Kyrgyz Republic in the field of financial accounting and auditor activities
Accepted by Jogorku Kenesh of the Kyrgyz Republic on April 30, 2025
Bring in the Law of the Kyrgyz Republic "About economic partnerships and societies" of November 15, 1996 No. 60 the following change:
to state the subitem 3 of Item 1 of Article 39 in the following edition:
"3) the financial reporting of society shall be confirmed with the conclusion of auditing organization;".
Bring in the Law of the Kyrgyz Republic "About financial accounting" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2002, No. 6, the Art. 273) the following changes:
Items 2-2 - 2-4 Articles 1 to state 1) in the following edition:
"2-2. Small business entities perform accounting of financial accounting according to the simplified rules established by the Cabinet of Ministers of the Kyrgyz Republic.
Small business entities have the right on voluntary basis according to the decision of their governing bodies which approved accounting policy to constitute the financial reporting according to IFRS for MSP.
For the purposes of this Law the small business entity is understood as subject which has revenue for calendar year from sale of products, goods, rendering services, performance of works, construction agreements, agreements of leasing, interest incomes, and also other revenue relating to the main activities of the subject constitutes up to 30 million som.
The subject stops being in category of small business entity if revenue for calendar year exceeds 30 million som.
2-3. For the purposes of this Law the subject of medium business is understood as subject which has revenue for calendar year from sale of products, goods, rendering services, performance of works, construction agreements, agreements of leasing, interest incomes, and also other revenue relating to the main activities of the subject constitutes from 30 million to 1 billion som.
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