The reforms carried out in the field of accounting and auditing in recent years, in particular measures aimed at improving the knowledge and skills of staff, are yielding results.

Within the framework of the memorandum signed between the Ministry of Finance of the Republic of Uzbekistan and the International Association of Chartered Certified Accountants (ACCA), extensive cooperation on the exchange of information is provided.

According to the information provided by ACCA in accordance with the memorandum, the total number of ACCA students is 645 people, of which 47 are ACCA members. 

182 candidates were registered for the exams to be held as part of the ACCA membership, which were held on June 21 , 2021, of which 65 were registered specifically for the “financial reporting (F7)”exam. In total, 188 candidates registered for the exam held as part of obtaining a Diploma in International Financial Reporting (DipIFR ACCA) and 32 candidates successfully passed.

In addition, in accordance with the "Temporary Regulation on the procedure for training accountants in accordance with international financial reporting standards and reimbursement of costs for passing exams within the framework of international certification of accountants", approved by the decree of the Cabinet of Minister of the Republic of Uzbekistan dated January 26, 2021, there is a mechanism for compensating students, teachers and civil servants studying or working in the field of accounting and auditing, the cost of training and exams for obtaining an international certificate in accounting and auditing. To date, within the framework of the project, 33 teachers and 39 students have been reimbursed for tuition and exams in the amount of about 247 million sums.

In addition, we inform you that in order to train qualified specialists in IFRS, the training course “Financial reporting under IFRS” has been launched on the online platform ifrs.academy, organized by the Ministry of Finance together with the Center for Professional Development “Norma”, which will be available free of charge in an updated form annually until 2025.

Source: Ministry of Finance of the Republic of Uzbekistan