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    Uzbekistan adopts new measures to meet international accounting standards

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    By Azergold Cjsc

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    Uzbekistan adopts new measures to meet international accounting standards

    TASHKENT, Uzbekistan, September 15. The
    President of Uzbekistan, Shavkat Mirziyoyev has announced a series
    of measures to modernize the nation’s financial accounting system
    and fully align it with international standards, Trend reports, citing the
    Ministry of Economy and Finance of Uzbekistan.

    Key initiatives include:

    From January 1, 2027, Public Interest Entities (PIEs) will
    implement the IFRS Sustainability Standards, ensuring their
    reporting reflects environmental, social, and governance (ESG)
    principles;

    Green accounting practices will be introduced across
    organizations to enhance transparency and support the country’s
    transition to a sustainable economy;

    The professional certification system for accountants will be
    strengthened based on international best practices, using a modular
    and tiered approach in line with International Education Standards

    Advanced reporting automation software, compatible with
    artificial intelligence (AI) technologies, will be integrated into
    the Unified Reporting System, improving efficiency, accuracy, and
    data reliability;

    The International Code of Ethics for Professional Accountants,
    issued by the International Federation of Accountants, will be
    widely promoted to reinforce professional integrity and ethical
    standards among accountants and auditors.

    These reforms aim to increase transparency in Uzbekistan’s
    financial and capital markets, enhance international investor
    confidence, and support the country’s broader economic development
    objectives.

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