The Plenary Meeting of the International Forum of Independent Audit Regulators (IFIAR) took place in Berlin, Germany
2025-04-15 15:30:00 / News of ministry
For information: The primary objective of IFIAR (International Forum of Independent Audit Regulators) is to serve public interests, including those of investors, by enhancing audit quality on a global scale. At present, IFIAR encompasses independent audit regulators from 56 jurisdictions worldwide (including the United States, United Kingdom, Japan, Russia, Saudi Arabia, the Netherlands, Singapore, and others).
During the plenary session, discussions focused on trends in the international audit market, practices for verifying sustainability reports, the role of artificial intelligence in auditing, and regulatory issues concerning small and medium-sized audit firms.
Additionally, major international audit companies that form the GPPC (Global Public Policy Committee) group - including Deloitte, PwC, EY, KPMG, and others - presented their perspectives on improving audit quality, approaches to auditing sustainability reports, and their impact on the private capital market.
During the plenary session, representatives of the Ministry of Economy and Finance, led by Otabek Barakayev, held a separate meeting with the IFIAR organization's Chairman Takashi Nagaoka, Deputy Chairman Kevin Prendergast, and Executive Director Delon Abrams. They discussed in detail the latest reforms and current state of auditing activities in Uzbekistan, the work completed towards the Ministry's membership in this organization, and the steps that need to be taken to achieve membership in the short term.
Uzbekistan's participation in the IFIAR Plenary Session and membership in this organization will serve as a foundation for securing a number of important and promising achievements for the country. This will not only enhance its international prestige but also contribute to the development of the internal audit and financial control system, strengthening cooperation in the fields of audit and financial transparency with developed countries such as the European Union, the USA, Japan, and South Korea.
Furthermore, by demonstrating audit control and transparent financial reporting that comply with international standards, Uzbekistan's investment appeal will increase, creating a reliable and stable financial environment for international investors.
Information Service
Ministry of Economy and Finance