Regulatory Alerts2021-05-31 | 103425Added · Updated
Regulation on the Main Requirements for the Accounting Policy of Payment System Operators and Payment Organizations
This regulation establishes mandatory accounting policy requirements for payment system operators and payment organizations licensed by the National Bank of the Kyrgyz Republic. It mandates adherence to International Financial Reporting Standards (IFRS), defines the scope of acceptable accounting methods, and requires specific disclosures regarding assets, liabilities, and internal controls. The document specifies approval procedures based on corporate structure, such as board of directors or shareholder meetings, and sets annual review obligations to ensure compliance with evolving IFRS standards.
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