REDRAFT OF LAW ON ACCOUNTING SUBMITTED

Ulaanbaatar /MONTSAME/ The Finance Minister Ch.Ulaan submitted Tuesday to the parliament Speaker a new wording of the law on accounting. This law has been amended several times--in 2002, 2003, 2006 and 2011--since it was passed by parliament in 1993. The amendments aim at leveling-up of accounting and financial reporting of public entities and small and medium enterprises to international standards. Thus, great results will be achieved in financial activities, such as improved investments and financial attractiveness of enterprises, reduced risks to domestic investors and creditors, enhanced capital and financial markets and strengthened national economy, the Minister considers.