The officials from the Ministry of Finance, Ministry of Justice, entrepreneurs, representatives of professional associations, international organizations and development institutions, accounting and audit faculties and practicing accountants and auditors attended the round table.

International experience of transition to International Audit Standards, quality control over performance of auditors and accountants, implementation of relevant best experiences in the countries – members of the Eurasian Council of Certified Accountants and Auditors, issues of auditor evidence at the final stage of audit of financial reporting and accounting of earmarked cash flows were among major issues discussed during the event. Furthermore, audit techniques of accounting policies of businesses and particular features of accounting of leasing operations in accordance with the Revised Tax Code were discussed in the course of the round table.

Proposals and recommendations on such areas as improving company audits, maintaining records of earmarked cash flows, and financial lease were presented during the round table. Moreover, the need for more in-depth analysis of existing legal framework for assessment of the prospects and implications of adoption of the International Audit Standards in Uzbekistan was noted.

Open and active discussions conducted during the event contributed to identification of new areas for improvement of accounting and audit practices in Uzbekistan. Moreover, specific recommendations on changes and amendments to the National Accounting Standards and National Audit Standards were developed.