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Republic of Uzbekistan
New document adopted to switch to IFRS Standards
2020-02-26 | Documents
On February 24, 2020, the Resolution of the President of the Republic of Uzbekistan on additional measures of switching to international financial reporting standards was adopted.
According to the document, joint-stock companies, commercial banks, insurance companies and legal entities classified as large taxpayers, from January 1, 2021 will organize accounting and, starting with the results of 2021, prepare financial statements based on international financial reporting standards IFRS, excluding legal persons for whom the legislation provides for an earlier period of transition to IFRS.
