First-Head Appointment Certification (Kazakhstan) cheat sheet

Constitution Art. 4: the Constitution has supreme legal force; statutes and other normative acts must not contradict it.

Hierarchy of normative acts: Constitution → constitutional laws → codes → ordinary laws → presidential decrees → government resolutions → ministerial orders.

Law 'On Legal Acts' (2016): a normative act is generally binding from the date of official publication unless the act itself sets a later date.

Entrepreneurial Code (2015) governs business regulation, state control and supervision, and the protection of entrepreneurs' rights.

Law 'On State Registration of Legal Entities' - registration is generally completed within 1 business day for a standard package of documents.

A joint-stock company is established by a constituent assembly, which unanimously adopts the charter and forms the management bodies.

The Civil Code has a general part and a special part; the special part prevails over the general part in case of conflict on special matters.

Normative legal acts affecting business are subject to public discussion and, in cases established by law, to regulatory impact analysis.

Joint-stock company bodies: general meeting of shareholders (supreme body), board of directors, management board (executive body), and internal audit service.

The board of directors may include independent directors; their share and criteria are set by the charter and listing rules.

The management board acts within the competence defined by the charter and is accountable to the board of directors.

The first head (first executive officer) acts without a power of attorney on behalf of the company, represents its interests, and concludes transactions within the charter's limits.

A transaction in which a director has an interest requires disclosure and, depending on the amount, approval by the board or the general meeting.

Major transactions (typically 25% or more of the company's assets) require approval by the general meeting of shareholders unless the charter provides otherwise.

The internal audit service reports to the board of directors and is functionally independent of the executive body.

The corporate secretary ensures compliance with corporate procedures and organizes shareholder access to information.

Current ratio = current assets / current liabilities; a value below 1.0 signals a working-capital deficit.

Quick ratio = (current assets − inventories) / current liabilities.

Return on equity (ROE) = net income / average shareholders' equity.

Debt-to-equity ratio = total liabilities / total equity; used to assess financial leverage and solvency risk.

Break-even point (units) = fixed costs / (price per unit − variable cost per unit).

Net present value (NPV) = Σ CFt / (1+r)^t − initial investment; a positive NPV supports the investment decision.

Internal rate of return (IRR) is the discount rate at which NPV = 0; accept a project when IRR > cost of capital.

The budget is a plan for the formation and use of financial resources for a defined period, approved by the authorized body.

Accounting is maintained in national currency (tenge); transactions in foreign currency are translated at the exchange rate on the transaction date.

The chart of accounts and accounting rules are approved by the authorized body; IFRS applies to financial statements of listed and certain other entities.

Double-entry bookkeeping: every transaction affects at least two accounts, and the accounting equation is Assets = Liabilities + Equity.

Accrual basis: revenues and expenses are recognized when earned or incurred, not when cash is received or paid.

The financial year generally runs from 1 January to 31 December; annual financial statements are prepared as of the reporting date.

Financial statements include the statement of financial position, statement of profit or loss and other comprehensive income, statement of cash flows, statement of changes in equity, and notes.

Inventory is measured at the lower of cost and net realizable value; depreciation is recognized over the useful life of the asset.

The first head is responsible for the reliability of accounting records and for the timely submission of financial statements.

The Tax Code (2017) establishes taxes, fees, and other mandatory payments to the budget; tax legislation is based on the principle of certainty.

Corporate income tax rate is generally 20% for resident legal entities; special regimes may apply lower rates.

VAT rate is 12%; the taxable base includes the value of goods, works, and services supplied.

Personal income tax rate is 10% on employment income for residents; non-residents are taxed at the rates established by the Tax Code.

Tax returns must be filed within the deadlines set by the Tax Code; late filing triggers penalties and interest on unpaid tax.

The budget system comprises the national budget, regional budgets, and local budgets; budget execution is reported quarterly.

Tax authorities may conduct audits; the taxpayer has the right to appeal a notification within the established period.

Transfer pricing rules apply to transactions between related parties; the arm's-length principle is the benchmark.

The Labor Code (2015) governs employment relations; an employment contract is concluded in writing and may be fixed-term or indefinite.

Normal working time does not exceed 40 hours per week; reduced hours apply to certain categories of workers.

Annual paid leave is at least 24 calendar days for most employees, excluding public holidays.

The probation period may not exceed 3 months for most employees and 6 months for certain positions.

Termination grounds include agreement of the parties, expiry of the contract, the employee's initiative, and the employer's initiative on grounds listed in the Labor Code.

Mandatory social insurance and pension contributions are withheld from wages and paid to the state social insurance fund and pension fund.

The employer must ensure safe working conditions and conduct mandatory medical examinations where required.

Collective agreements regulate social and labor relations and may provide additional guarantees to employees.

The employer is obliged to provide safe working conditions, instruction, and training on labor protection.

Mandatory periodic medical examinations are conducted for workers in harmful and hazardous industries.

Accidents at work are subject to investigation by a commission established by the employer with the participation of the employee's representatives.

Personal protective equipment is provided at the employer's expense where working conditions require it.

The labor protection service or specialist is created in organizations with a specified number of employees.

Workers have the right to refuse work that poses a danger to life or health, with preservation of the job.

State supervision over labor protection is exercised by the authorized state body.

The employer must maintain records of labor protection instructions and conduct introductory and periodic briefings.

A contract is concluded when the parties reach agreement on all essential terms; an offer and acceptance form the basis.

Essential terms include the subject matter of the contract and terms designated as essential by law or by the parties.

Property rights include the right of ownership (possession, use, disposal) and other real rights (economic management, operational management).

Ownership may be acquired by contract, inheritance, or other grounds provided by the Civil Code.

A transaction in writing is required for transactions between legal entities and for certain transactions specified by law.

Limitation period is generally 3 years; the parties may not change it by agreement.

Liability for breach of obligation includes damages and, where provided, a penalty (forfeit).

A legal entity is subject to state registration and acts through its management bodies.

The Law 'On Combating Corruption' (2015) defines corruption offenses and establishes preventive measures.

Gifts to officials and persons in public service are restricted; the value threshold and permitted cases are set by law.

Conflict of interest must be disclosed and managed; a person in a position of authority must recuse from decisions affecting personal interests.

Compliance risk assessment identifies exposure to bribery, fraud, and sanctions; controls are designed to mitigate them.

Whistleblowing channels must protect the confidentiality of persons reporting corruption offenses.

The compliance officer monitors regulatory changes and ensures internal policies are updated accordingly.

Risk management includes identification, assessment, treatment, and monitoring of risks; the risk register documents them.

Anti-money laundering legislation requires customer due diligence and reporting of suspicious transactions.

Strategic planning cycle: analysis (SWOT, PESTEL) → mission and goals → strategy formulation → implementation → monitoring and evaluation.

SMART criteria: goals must be specific, measurable, achievable, relevant, and time-bound.

A business plan typically includes market analysis, marketing plan, production plan, organizational plan, and financial plan.

Key performance indicators (KPIs) measure progress toward strategic objectives and should be linked to the incentive system.

Scenario analysis and sensitivity analysis test the robustness of a strategy under different assumptions.

The balanced scorecard covers financial, customer, internal process, and learning and growth perspectives.

Strategic control compares actual results with planned targets and adjusts the strategy when deviations exceed thresholds.

Stakeholder analysis identifies parties affected by the strategy and their influence and interests.