Number of functions of the Finance Ministry to be transferred to public associations of auditors

The main goal of the project is to transfer, from August 1, to public associations of auditors, the functions of the Finance Ministry for issuing, reissuing, extending and terminating the validity of an auditor’s qualification certificate, and approving programs for training auditors’ qualifications.

The certification of auditors will be carried out on the basis of the best practices of developed countries, ensuring the transparency of qualification exams for obtaining an auditor’s qualification certificate, as well as establishing close cooperation and relationships with international organizations.

The decree provides for the following:

• Training the teaching staff in the subjects “Accounting” and “Auditing” in international audit standards in accredited training centers;
• Admission of applicants with international certificates of accountants for the direction of the bachelor’s degree of higher education “Accounting and Auditing”, and students for the specialty of the master’s degree “Accounting” and “Auditing” without entrance exams;
• Recognition of international educational standards published by the International Accounting Education Standards Board of the International Federation of Accountants for use in Uzbekistan.

Currently, conducting qualification exams to obtain qualification certificates for auditors, issuing, reissuing, extending and terminating the validity of auditor qualifications, approving professional development programs for auditors is the responsibility of the Finance Ministry.

From August 1, the functions of the Finance Ministry for issuing, reissuing, extending and terminating the validity of an auditor’s qualification certificate, and approving programs for training auditors’ qualifications will be transferred to public associations of auditors.