Governance

Financial Management and Governance Issues in Uzbekistan

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This report describes accounting and auditing arrangements and practices in Uzbekistan, identifies deficiencies in those arrangements, and presents recommendations to address those deficiencies.

SEE ALSO

Financial Management and Governance Issues Series Diagnostic Study of Accounting and Auditing Practices Series

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Contents

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Foreword, Contents, and Executive Summary [ PDF:109kb | 20 pages ]

1. INTRODUCTION [ PDF:21kb | 4 pages ]
   1. Study Background
   2. Objectives
   3. Scope
   4. Country Case Studies and Workshops
   5. The ADB Focus on Financial Governance in Uzbekistan
   6. Uzbekistan

2. ACCOUNTING AND AUDITING IN UZBEKISTAN [ PDF:56kb | 16 pages ]

   Part One. Accounting

   1. Introduction
   2. Issues and Responses since 1991
   3. The 'Uzbekistan Accounting System'
   4. Financial Reporting Requirements
   5. Bookkeepers and Accountants

   Part Two. Auditing

   6. Introduction
   7. Governing Laws and Regulations
   8. Audit Requirements
   9. Auditor Licencing
   10. Bank Auditing
   11. Public Sector Auditing
   12. Accounting and Auditing Firms

3. PROFESSIONAL INFRASTRUCTURE [ PDF:33kb | 6 pages ]
   1. Introduction
   2. Association of Accountants and Auditors (AAA)
   3. Republican Union of Auditors (RUA)

4. ACCOUNTING AND AUDITING STANDARDS [ PDF:22kb | 4 pages ]

   Part One. Accounting Standards

   1. Introduction
   2. Accounting Standard Setting Responsibilities
   3. Uzbekistan Accounting Standards
   4. Conformity with International Accounting Standards
   5. Public Sector Accounting Standards

   Part Two. Auditing Standards

   1. Introduction
   2. Development and Promulgation

5. ACCOUNTING AND AUDITING TRAINING [ PDF:30kb | 8 pages ]
   1. Introduction
   2. Educational Responsibilities and Coordination
   3. Higher Education
   4. USAID Accounting Training Initiatives
   5. British Council Accountancy Training of Trainers Project
   6. United Nations ( UNDP ) Accounting Reform Project
   7. Other Accounting Training Initiatives

6. GOVERNMENT BUDGETING AND ACCOUNTING [ PDF:31kb | 8 pages ]
   1. Introduction
   2. Legal Framework for Budgeting and Reporting
   3. Budgeting Roles and Responsibilities
   4. Budget Composition
   5. The Budget Process
   6. Public Investment Programming Process
   7. Accounting Bases and Asset Management
   8. Financial Reporting
   9. Benchmarks, Ratios, and Covenants
   10. Accounting Information Systems
   11. Anti-Corruption Measures

7. DONOR ASSISTANCE [ PDF:34kb | 8 pages ]
   1. Overview
   2. Coordination Mechanisms
   3. Asian Development Bank
   4. International Monetary Fund (IMF)
   5. The World Bank
   6. United Nations ( UNDP )
   7. European Union (EU-TACIS)
   8. United States ( USAID )
   9. Japan (JICA)
   10. Turkey (TICA)
   11. European Bank for Reconstruction and Development
   12. British Council Know-how Fund

8. ISSUES AND RECOMMENDATIONS [ PDF:39kb | 9 pages ]

   Part One. Where Donor Assistance Might be Appropriate

   1. Strengthening the Accounting and Auditing Profession
   2. Strategic Development Plan for Accounting Profession
   3. Establishment of Internal Auditing Profession
   4. Development of Accounting Standards
   5. Development of Auditing Standards
   6. Development of Educational and Training Materials
   7. Public Budgeting and Finance Issues
   8. Training for Accounting Lecturers and Professors
   9. Establish an Independent Supreme Audit Institution

   Part Two. Where External Assistance is Not Required

   1. AAA Membership Categories
   2. Independence of Auditing Firms from Government
   3. Independent Accounting Standard-Setting Body
   4. Regulatory Compliance Requirements

9. MAIN DEFICIENCIES AND ACTION PLAN [ PDF:25kb | 2 pages ]

REFERENCES AND APPENDIXES [ PDF:60kb | 20 pages ]