Tashkent, Uzbekistan (UzDaily.com) -- On 18-19 October, the Ministry of Economy and Finance of the Republic of Uzbekistan held the next XX meeting of the Coordinating Council on Accounting of the CIS Member States.

Since 2008, the Republic of Uzbekistan annually participates in the work of the Coordinating Council on Accounting of the CIS Member States. Cooperation in this area is of particular importance, aimed at a higher level of interaction between the CIS member states, corresponding to modern approaches based on accumulated practical experience and the use of flexible approaches to solving emerging issues, taking into account the peculiarities of the situation in the economy of each CIS member state.

The Coordination Council for Accounting of the CIS Member States was created in order to coordinate the actions of the Commonwealth member states on accounting issues, develop modern requirements for the organization of accounting, preparation of financial statements, regulation of auditing activities, as well as harmonization of national accounting and auditing systems with International Financial Reporting Standards (IFRS) and International Auditing Standards (ISA - IAS).

According to the Action Plan for the implementation of the first stage (2021-2025) of the CIS Economic Development Strategy for the period up to 2030, approved by the decision of the Council of Heads of Government of the CIS, the main areas of cooperation of the Coordination Council for Accounting of the CIS Member States have been identified.

Participation at the meeting of the Coordination Council is carried out by representatives of government bodies authorized by the CIS member states that regulate accounting and auditing issues.

The XX meeting of the Coordination Council was attended by representatives of the Ministry of Finance of Azerbaijan F. Abdullayev, the Ministry of Finance of Armenia K. Alaverdyan, the Ministry of Finance of Belarus T. Rybak, Ministry of Economy and Commerce of Kyrgyzstan A. Murzataev, Ministry of Finance of Kazakhstan A. Kaliev and Sh. Nasyrov, Ministry of Finance of the Russian Federation E. Starovoitova and S. Burtsev, Ministry of Finance of Tajikistan O. Muminzoda, M. Boymurotova, Sh. Rustamov, CIS Executive Committee O. Smirnov.

During the meeting, the following main areas were reviewed and discussed:

on the current state of interaction between the CIS member states in the financial and economic sphere and the tasks of the Coordination Council for Accounting of the CIS member states for 2024;

on the progress of the implementation of the Action Plan for the implementation of the first stage (2021–2025) of the CIS Economic Development Strategy for the period until 2030;

on measures of state support in the training of practitioners in International Financial Reporting Standards in Uzbekistan, providing for the creation of free online training platforms, as well as reimbursement from the state budget of expenses for training and passing exams, as part of the international certification of accountants;

on the development of national systems for regulating accounting and auditing based on international principles, as well as the implementation of the Agreement on Consolidated Financial Reporting of National Economic Entities of the CIS Member States;

on the organization of accounting of digital financial assets and disclosure of information about them in financial statements;

on further improvement of legislation in the field of accounting and auditing in the CIS member states.

At the conclusion of the meeting, the Information Notice on the XX meeting of the Council was approved, and the issues of the transition of the chairmanship of the Coordination Council by the Republic of Azerbaijan from January 1, 2024 were discussed.

Following the meeting, the participants of the meeting of the Coordination Council expressed gratitude to the Ministry of Economy and Finance of the Republic of Uzbekistan for organizing and holding the XX meeting of the Coordination Council on Accounting of the CIS Member States.