Ministry of Economy and Finance of the Republic of Uzbekistan

Within the framework of the Resolution of the President of the Republic of Uzbekistan No. PP-282 dated September 15, 2025, "On measures for the fundamental improvement of the financial accounting system in accordance with international requirements and standards," a system of National Financial Reporting Standards (NFRS) harmonized with International Financial Reporting Standards (IFRS) is being gradually formed through the revision and unification of national accounting standards (NFRS). The reforms are aimed at increasing the reliability, transparency, and comparability of reporting, and assisting organizations in accounting based on new requirements.

To date, 5 documents related to the NAS have undergone state registration, and 9 more draft standards have been submitted for public discussion. The scope of application and the date of entry into force of each document are determined separately. Therefore, it is important for organizations and programmers to take into account the official text of the standards and the effective date.

To facilitate the practical implementation of the new standards, the Ministry of Economy and Finance has developed a recommendatory chart of accounts for organizations preparing reports based on IFRS. "Conceptual foundations for the preparation and presentation of financial statements" (June 10, 2026, No. 3854) and the requirements of the relevant NAS. The chart of accounts does not introduce a mandatory unified system: organizations may independently form a work plan in accordance with their activities and accounting policies.

The Ministry has also prepared a recommendatory and methodological manual covering the main differences of the new IFRS from the current NAS, innovations in accounting and financial reporting, as well as explanations for their application. These materials provide practical assistance in updating software solutions, forming reporting items, and adjusting accounts.

The transition to IFRS may require the adaptation of accounting registers, reporting forms, and information disclosure capabilities in accounting programs. In this regard, organizations that develop, supply, and implement software products are recommended to ensure their timely alignment with officially effective standards. At the same time, projects should not be accepted as mandatory requirements, and changes should be planned in accordance with the approved text of the standard and the effective date.

The Ministry of Economy and Finance is ready to cooperate with software providers on the application of IFRS, the reflection of the recommended chart of accounts in programs, and the discussion of emerging methodological issues. Such communication serves to correctly apply the new requirements and facilitate the reporting process for organizations.

For proposals and appeals in this direction, you can contact the specialist of the Department of Methodology of Accounting and Implementation of International Financial Reporting Standards of the Ministry of Economy and Finance at the following phone number: Tel: +998 71 203 50 50 (internal number: 01849).

PR and Communications Department
Ministry of Economy and Finance