Uzbekistan: accounting reform under international standards is being launched

On September 15, 2025, Presidential Decree No. PP-282 "On measures to improve the financial accounting system in accordance with international requirements and standards"was signed. The document comes into force in December 2025 and provides for a large-scale reform of the national accounting system in order to fully comply with international standards.

According to the decree, starting from January 1, 2026, the Ministry of Economy and Finance will start maintaining an electronic register of socially significant organizations on gov platforms.uz and data.egov.uz. It will include enterprises that have significant social and economic influence, depending on the scope of their activities or the size of their assets.

For entities included in this list, a mandatory transition to international financial reporting standards is introduced. From January 1 of the year following inclusion in the register, such organizations will have to organize accounting in accordance with IFRS. Based on the results of the second year of their work in the new format, companies are required to prepare financial statements and publish them together with the auditor's report. The exception is legal entities that have earlier transition dates.

The reform is aimed at increasing the transparency of the financial sector, strengthening confidence on the part of investors and creditors, and creating conditions for the integration of the national economy into global capital markets. The introduction of IFRS will unify accounting policies, which will facilitate attracting investment, improve the quality of corporate governance and make the reporting of Uzbek companies more understandable for international partners.