Draft Law on Accounting and Financial Reporting Discussed

On July 2, 2026, the Institute for Reducing the Shadow Economy, Improving Tax and Customs Administration, and Fiscal Analysis under the Ministry of Economy and Finance of the Republic of Uzbekistan hosted an expert discussion on the draft Law “On Accounting and Financial Reporting.”

The event brought together experts in accounting, financial reporting, auditing, taxation, accounting outsourcing, and professional education. Participants exchanged views on the conceptual framework of the draft law, the distinction between accounting and financial reporting, and issues related to ensuring the transparency and reliability of financial reporting.

During the discussion, participants emphasized that financial reporting should not be limited solely to fiscal purposes but should serve as a reliable source of information for investors, creditors, shareholders, and other stakeholders. They also proposed improvements to the provisions governing outsourced accounting services and the legal status of professional accountants.

At the conclusion of the event, it was emphasized that the opinions and practical recommendations put forward by the experts should be consolidated and taken into account during the further refinement of the draft law.