Uzbekistan Establishes Methodological Council on Accounting and Auditing

Tashkent, Uzbekistan (UzDaily.com) — The Ministry of Economy and Finance has established a Methodological Council on Accounting and Auditing as part of reforms aimed at transitioning to International Financial Reporting Standards (IFRS).

The council was formed in accordance with Presidential Decree No. PQ-282 dated 15 September 2025, which defines a new phase in modernizing the national financial accounting and auditing system in line with international requirements.

The council’s composition includes representatives of the ministry, qualified professionals, practicing experts, scholars, as well as domestic and international consultants. Both the council’s membership and its operational regulations have been formally approved.

The primary objectives of the new body are to develop proposals for aligning national legislation with international standards, establish a unified accounting methodology, prepare methodological guidelines for auditing activities, and create practical manuals for applying IFRS across various sectors of the economy.

The establishment of the Methodological Council is intended to accelerate the implementation of international accounting and auditing standards, improve the regulatory framework, and enhance the professional competencies of specialists in the financial sector.