"Implementation of international financial reporting standards based on an innovative approach"
On September 16, 2022, an international scientific and practical conference "Implementation of international financial reporting standards based on an innovative approach" was held jointly with the Tashkent Financial Institute, Polotsk State University (Belarus), Bayner University (Malaysia).
It is known that the main goal of applying IFRS is to support stability and maximum transparency in the world of finance, business and decisions. Only in this case, the company will be able to attract the attention of investors, demonstrating its own development and expansion. This is especially true for the European Union, Asian and South American countries. Uzbekistan is no exception. It is compliance with IFRS requirements that is a strong argument in front of competitors, since for investors this moment is often the decisive criterion that guarantees the correctness of the choice itself.
Based on the tasks set by the Decree of the President of the Republic of Uzbekistan dated 24.02. 2020 SC 4611 "On Additional Measures for the Transition to International Financial Reporting Standards", identified existing problems and challenges in the implementation of international financial reporting standards and ways to overcome them are considered in detail.
The directions of the conference are as follows:
1. Features of the implementation of international financial reporting standards in Uzbekistan and the use of innovative methods in them.
2. Priority areas for the use of international financial reporting standards in auditing.
3. The role of international financial reporting standards in the formation of information sources for economic analysis.
4. Improving the accounting and auditing system in commercial banks in accordance with the requirements of international financial reporting standards.
5. Bringing the system of budgetary accounting and internal audit of the public sector in line with international standards.
The conference was attended by experts in the field of accounting and auditing. analysis, foreign guests, domestic scientists, professors, researchers and young scientists.
As a result of the conference, evidence-based proposals and recommendations were developed for the implementation of international financial reporting standards based on innovative methods of the system in the context of globalization.