Tashkent, Uzbekistan (UzDaily.com) -- On 21 May, the Ministry of Finance of the Republic of Uzbekistan and the Tashkent Financial Institute organized a scientific and practical conference on topical issues of accounting and auditing based on international standards. The goal is to develop practical proposals and recommendations.

The event was attended by employees of industry ministries and departments, higher education institutions, colleges, research and financial institutions, as well as specialists in the field, doctoral students, applicants and undergraduates.

It was noted that the rapid growth of the world market made it necessary to introduce specialized international standards in our country. The organization of accounting and auditing activities on their basis is provided for by the resolutions of the President of the Republic of Uzbekistan No. PP-4611 of February 24, 2020 “On Additional measures for the transition to International Financial Reporting Standards” and No. PP-3946 of September 19, 2018 “On measures for the further development of auditing activities in the Republic of Uzbekistan”.

Otabek Barakayev, an employee of the Ministry of Finance, made a report on the ongoing reforms in the field of accounting and auditing, International Financial Reporting Standards and the legal framework for auditing.

Presentations were held on the priorities in this direction, the updating of accounting, economic analysis and audit in the context of the formation of the digital economy, the problems of implementing budget accounting standards in the public sector. Then there were active discussions.

As a result of the conference, key conclusions were identified and an agreement was reached on the joint work of specialists in the field to implement the necessary reforms.