TOWARD GLOBAL INTEGRATION: ANALYZING THE OPPORTUNITIES AND CHALLENGES OF IFRS IMPLEMENTATION IN UZBEKISTAN
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Аннотация:
The main mission for the development of NAS assigned to the Office of accounting methodology and audit of the Ministry of Finance of the Republic of Uzbekistan with the participation of the National Association of Accountants and Auditors of Uzbekistan and with the support of international organizations”,In 2010, the President of the Republic of Uzbekistan has adopted a Decree supporting adoption of IFRS in Uzbekistan. Moreover, the Central Bank has adopted IFRS for the banking sector in Uzbekistan. However, IFRS has not yet been fully implemented for banks,to be completed by 2020 . National Association of Accountants and Auditors of Uzbekistan (NAAAU) now requires all listed and unlisted banks,financial sectors and insurance companies to use IFRS, but all other entities, irrespective of their size, are required to use the local NAS as issued by NAAAU (IFRS, 2020).
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