President of Uzbekistan has signed the law On Audit Activity, the Ministry of Justice informs.
According to the document, the Ministry of Finance has become the authorized state body for auditing. Only persons with a qualification certificate may become auditors.
Also, the website of the Ministry of Finance will publish information on auditing activities and auditing standards, while the Central Bank is authorized for auditing banks and other credit organizations.
Public associations of auditors have the right to participate in qualification examinations and the development of test questions. There shall be no interference in the activities of auditing organizations.
The auditor’s qualification certificate is issued by the Ministry of Finance. In order to obtain a certificate, an applicant must have higher education and have at least 3 years of work experience in accounting and auditing.
Applications for the qualification test are considered within 3 working days, after which a decision is made on whether or not to let the applicant take the exam.
The law enters into force three months after its official publication.