As part of the Joint Economic Research Program (JERP), the CFRR has published a report summarizing the options for continuing the reform of financial reporting for small- and medium-sized enterprises in Kazakhstan.
The report describes the current framework for financial reporting in Kazakhstan and, in particular, how well it meets the requirements of SMEs. It compares the reporting framework in Kazakhstan with international moves to simplify and rationalize financial reporting for SMEs. These developments have to balance the conflicting objectives of making financial reporting more formal in order to improve the access of SMEs to external finance and of easing the financial reporting requirements of SMEs in order to reduce their costs of doing business. The report finds that international policy-makers are generally moving towards reducing financial reporting requirements on small and micro companies.