In 2024, Uzbekistan took a significant step forward in modernizing its accounting and auditing systems. The reforms covered both the legal and regulatory framework and the digital infrastructure, improving the transparency and quality of financial reporting.

What was done in 2024

• Updated national standards: 15 new NAS and 4 accounting regulations focused on convergence with international standards were adopted and implemented.
• Digitalization: platforms subsidiya. uz for subsidy management and Audit Platform for online submission of audit reports.
• Support for the audit industry: compensation of audit costs for the public sector was introduced, private audit training centers were accredited.

Plans for 2025

• Implementation of XBRL: a system for filing financial statements in XBRL format will be launched to increase data transparency.
• Focus on sustainable reporting: integration of ESG (environmental, social responsibility and governance) principles into reporting practices is planned.
• Skills development: training of auditors on international IFRS and ISA standards will continue.

Source: Ministry of Economy and Finance of the Republic of Uzbekistan