Uzbekistan Adopts New Measures To Meet International Accounting Standards

(MENAFN- Trend News Agency) 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 (IES);

• 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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