Regulatory Alerts2014-06-12 | 88412Methodological Recommendations on the Organization and Maintenance of Accounting for Microfinance Organizations and Credit Unions
The Supervisory Committee of the National Bank of the Kyrgyz Republic issued these Methodological Recommendations to standardize accounting practices for microfinance organizations and credit unions. The document mandates that governing bodies and chief accountants ensure strict compliance with internal control systems, proper documentation workflows, and accurate financial reporting in the national currency. It details specific requirements for primary accounting documents, including memoranda, payment orders, and cash receipts, while prohibiting alterations and defining strict signatory authorities.
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