Tashkent, Uzbekistan (UzDaily.com) -- At the next plenary meeting of the Legislative Chamber of the Oliy Majlis, a new version of the draft law “On Auditing” was considered. The document caused a heated discussion of members of parliament.

The current situation in the global economy requires consistent implementation of financial and economic control within the framework of the law. The amendments and addenda to the bill aimed at achieving these goals are based on the principles of proven international practice in the field of audit regulation. These are the questions raised by the deputies.

The main goal of the bill is to create an effective legal mechanism for regulating audit based on international principles and best practices, abolish paper and simplify the procedure for providing public audit licensing services.

The draft law was submitted by the Committee on Budget and Economic Reforms. During the article-by-article review of the document, he raised a lot of questions from representatives of the people.

Conflicting opinions have caused some norms and basic concepts of the document. So, if there is a qualification certificate, but information about the auditor is not entered in the Register of Auditors and is not posted on the official website of the authorized body, then the person cannot engage in this activity. The deputies also expressed their opinion on whether the audit organizations are considered business entities or not.

After a long debate, deputies voted to return the draft law to the committee for its revision and consideration of the document in the second reading.