Ministry of Economy and Finance of the Republic of Uzbekistan

In the direction of International Financial Reporting Standards (IFRS):

1. Based on the results of the III quarter of 2025:

Within the framework of international certification of accountants, 817 applications for reimbursement of examination costs were reviewed, of which 602.3 million soums were reimbursed for 425 applicants;

In total, 15 applications from 5 training centers for reimbursement of training costs for 218 learners were reviewed, of which 626.4 million soums were reimbursed for the training costs of 141 learners from 7 applications.

2. In the process of collaboration with ACCA (Association of Chartered Certified Accountants), 19 training centers successfully passed international accreditation.

3. More than 13,000 learners, students, teachers, accountants, and finance professionals are studying on the two-stage free online distance learning platform for teaching International Financial Reporting Standards (ifrs.academy).

4. The "IFRS" software package for covering the costs of training and exam-taking within the framework of international certification of accountants, and for implementing information and communication technologies in the field of interaction with government bodies, has been prepared and launched on January 1.

In the field of auditing:

1. According to the general characteristics of the auditing services market in our republic, as of September 30, 2025, the number of auditing organizations reached 167, and the number of individuals with auditor qualification certificates reached 1,264.

2. To ensure transparency in the activities of auditing organizations and implement information and communication technologies in their cooperation with government bodies, the "Audit" software package was developed and put into practice. Currently, the "Audit" software package is operating on the web pages http://audit.mf.uz and https://audit.imv.uz.

3. Regarding the issues of combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction:

Starting from January 2025, in cooperation with the Department for Combating Economic Crimes, work is being carried out to prepare for the 3rd round of mutual evaluation of the national system for combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction (AML/CFT/CFPWMD). A number of activities are being implemented within the framework of the "Roadmap" and Action Plan approved by the protocol of the Interdepartmental Commission on AML/CFT/CFPWMD, and a report for January-September 2025 has been prepared.

4. The working regulations of the Commission for reviewing the state language text of International Standards on Auditing (ISA) of the Ministry of Economy and Finance have been approved, and leading experts in the field have been included in this Commission.

Additionally, activities for translating ISA are being carried out within the framework of the Institutional Capacity Building Project (ICBP) financed by the World Bank.

  Developed regulatory and legal documents:

1. In order to systematize the field of accounting, encourage the transition to International Financial Reporting Standards (IFRS), create additional conditions for business entities to adopt IFRS, improve external quality control systems for financial reporting, as well as strengthen the legal status and prestige of the accounting and auditing professions, ensure their compliance with professional ethics requirements, guarantee the quality of accounting and auditing services based on international standards, and develop the field of accounting and auditing through digitalization, a draft resolution of the President of the Republic of Uzbekistan "On Measures for the Fundamental Improvement of the Financial Accounting System in Accordance with International Requirements and Standards" was developed, and Resolution No. PR-282 dated September 15, 2025, was adopted.

2. Work is underway to implement International Financial Reporting Standards (IFRS). To consistently continue these reforms, as well as to coordinate and provide methodological support for the implementation of IFRS, and to support and facilitate the activities of business entities:

An order of the Ministry of Economy and Finance of the Republic of Uzbekistan "On Amendments to Certain Departmental Regulatory Legal Acts" (registered by the Ministry of Justice on February 11, 2025, registration No. 3607) was adopted, according to which:

• National Accounting Standard (NAS No. 4) "Inventories";
• National Accounting Standard (NAS No. 5) "Fixed Assets";
• National Accounting Standard (NAS No. 7) "Intangible Assets" were amended and supplemented accordingly.

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Ministry of Economy and Finance