Regulatory Alerts2021-05-31 | 103425Regulation on the Main Requirements for the Accounting Policy of Payment System Operators and Payment Organizations
The National Bank of the Kyrgyz Republic issued this Regulation to establish mandatory accounting policy requirements for payment system operators and payment organizations operating under its license. It mandates that these entities adopt IFRS-compliant accounting frameworks, clearly define management responsibilities, and systematically document transaction handling, asset/liability valuation, and internal control procedures. Furthermore, the Regulation standardizes the development, approval, annual review, and information disclosure processes to ensure reliable, comparable, and transparent financial reporting.
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