The agreement on acceleration of transfer and legalization of international accounting standards in the countries of Central Asia
of April 27, 2000
The participants of this agreement on behalf of plenipotentiaries of professional and public organizations of accountants and auditors of Central Asia who further are referred to as the Party, understanding that in the Central Asian region single approach to financial accounting is necessary; understanding that only single standards can be the combining and identifying condition of financial accounting, agreeing that International accounting standards can only be such standards accepted in the majority of the countries entering IFAK; considering specific experiment of Chamber of auditors of the Republic of Kazakhstan on transfer and adoption of International standards of audit agreed as follows:
Accept the offer of Chamber of auditors of the Republic of Kazakhstan and Chamber of professional accountants of Kazakhstan on transfer, with technical assistance of the YuSAID Program "Financial accounting reforms", and preparation for legalization (acceptance, approval) by authorized bodies of the countries of the Central Asian region of International accounting standards.
Agree with need of preparation of Methodical recommendations and comments for International accounting standards which originally prepare in professional and public associations of Kazakhstan with technical assistance of the YuSAID above-mentioned Program with the subsequent adaptation in the countries of Central Asia which signed or adjoined this agreement.
According to the mutual arrangement changes and additions can be made to this agreement.
This agreement becomes effective from signature date its Parties.
This agreement is open for accession in it with the consent of all Parties of any professional organization of the accountants and auditors sharing the purposes and the principles of this Agreement.
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