Meeting with representatives of the Asian Development Bank on the implementation of IFRS in Uzbekistan

A meeting was held at the Ministry of Finance of the Republic of Uzbekistan to discuss the process of transition to IFRS and the conditions for its application in the country.

The meeting was attended by responsible specialists of the Ministry of Finance, representatives of the Asian Development Bank headed by the consultant on IFRS Yana Ritchie, specialists and their management from various government bodies, and teachers of higher educational institutions in Uzbekistan.

During the event, special attention was paid to the essence and mechanism of implementing the President of the Republic of Uzbekistan decree dated February 24, 2020, No. PP-4611 "On additional measures for the transition to international financial Reporting standards" and the organization of accounting based on IFRS from January 1, 2021, by enterprises switching to IFRS and the tasks that follow from this, which must be carried out by public administration bodies as a whole, through interaction with each other and constant cooperation in carrying out ongoing reforms.

During the event, issues related to the training of specialists during the transition to IFRS and the timing of recognition of IFRS documents in the state language were also raised.

At the end of the meeting, the participants expressed their gratitude for the organization of the event and made their proposals for the further development of such a format of cooperation.

Information Service

Ministry of Finance