Uzbekistan makes the first to translate the text of International Financial Reporting Standards

Tashkent, Uzbekistan (UzDaily.com) -- In accordance with the resolution of the President of the Republic of Uzbekistan from 24 February 2020 No. PP-4611, in order to introduce international financial reporting standards (IFRS) on the territory of the Republic of Uzbekistan, the Ministry of Finance translated into the state language the terms used in the text of IFRS documents, and studied by an expert commission. The use of terms in the translation of IFRS documents into the state language is of no small importance.

Professional opinions, proposals and suggestions of qualified specialists who are direct users of IFRS documents on the translation of terms used in them into the state language are an important factor in unifying the use of these terms in the text of translation of IFRS documents into the state language. From this point of view, specialists who want to consider the translation of terms and give substantiated professional opinions, feedback and suggestions, who have experience of work or teaching English and Uzbek languages and IFRS, can take an active part in this process.

In addition, in order to train and improve the qualifications of specialists in the field of IFRS, the number of participants in two educational (training) platforms on the basics of IFRS, created on the direct initiative of the Ministry of Finance in cooperation with international accredited training centers, reached 6,000.