Under the Myanmar Companies Act (MCA) companies must maintain proper books of accounts which  are required to be kept at the  registered office of the company. Financial statements must be prepared in accordance with Myanmar Accounting Standards (MAS).

In 2003 and 2004, in the absence of a government policy, the Myanmar Accountancy Council (MAC) issued MASs 1 to 30, which were based on International Accounting Standards existing at that time. The MAC is a member of the ASEAN  Federation of Accountants (AFA).

Myanmar Financial year-end

The tax assessment year is from 1 April to 31 March and cannot be varied. This is mandatory even for branches of foreign companies that may have a different financial year-end. Companies to submit audited financial statements to the tax authorities annually by 30 June. 

Reporting Currency

The statutory reporting currency is in MMK/Kyats.


Myanmar companies must appoint one or more auditors.  The first auditor can be appointed by a  company’s directors. Subsequent auditors may be appointed by the shareholders at the annual general meeting. The directors of a company are required to submit a set of audited financial statements at each annual general meeting

Section 145(1) of the Myanmar Companies Act requires an auditor to report to the members of a company on the financial statements examined by the auditor at the annual general meeting