On Wednesday 10th May 2023, G B Microfinance Institution Plc and Morakot Technology Co., Ltd team launched the Standard Accounting System of Cambodian International Financial Reporting Standard (CIFRS) for SMEs in the core banking system (automation) of G B Microfinance Institution Plc. The launching of this Standard Accounting System for CIFRS for SMEs is to contribute to the strengthening of the transparency of international financial standard reports and provides a clear standard for the implementation of the accounting management system, convenience and confidence for enterprises, companies, investors, and consumers of all financial standard reports.

The Royal Government of the Kingdom of Cambodia, through the National Accounting Council (NAC) of the Ministry of Economy and Finance, has issued Notification No. 097/09 SAR-HAR-VO-KAR-CHHO-KO of the implementation of the International Financial Reporting Standard of Cambodia (CIFRS) and the International Financial Reporting Standard of Cambodia for Small and Medium Enterprises (CIFRS for SMEs), dated on August 28, 2009, and notification letter No. B7-020-1632CHHAR. TAR, issued by the National Bank of Cambodia, dated October 28, 2020, to instruct all subordinative sectors to implement in principle.