STAGES OF IMPLEMENTATION AND PROBLEMS OF IMPLEMENTATION OF INTERNATIONAL AUDITING STANDARDS IN UZBEKISTAN

Abstract

This article is devoted to the study of the problems of applying international audit standards in the Republic of Uzbekistan. The author identified the main problems of applying international audit standards in the practice of audit organizations of the Republic of Uzbekistan, which include: insufficient qualified personnel, high costs of training or staff development, a language barrier, the complete absence of special domestic computer programs, the complexity of the content and structure of international audit standards. Along with the programs, the author presents the advantages of applying international audit standards, which include: providing a unified approach to auditing at the international level; trust is established by investors, creditors and shareholders; comparability of audit results between companies and countries is provided, and the competitiveness of audit organizations of Uzbekistan in the international arena is guaranteed; providing support from international institutions: the World Bank, the World Federation of Exchanges, the International Organization of Securities Commissions, the Committee on Financial Stability, etc. Development prospects are also proposed through the creation of specialized centers whose main functions are: professional translation of International Auditing Standards, publication of a special literature, training and exchange of knowledge and experience.