World Bank Document

 
B.
The Accounting and Auditing Professions 
39. Uzbek accounting and auditing legislation does not formally recognize the accounting 
profession. While it spells out detailed information on education requirements for auditors, no 
requirements or criteria have been established for the certification and competence of 
accountants, except the requirements for chief accountants in banks. The regulation issued by the 
CBU specifies the following requirements for the chief accountants of banks: specialized higher 
education and work experience, as well as a special certificate issued by the CBU confirming 
completion of the training course on IFRS. For this purpose the CBU organizes special training 
courses on IFRS jointly with regional banking training center under Banking and finance 
academy. Three professional associations serve both accountants and auditors: the National 
Association of Accountants and Auditors (NAAA), the Association of Teachers of Business and 
Finance Disciplines (ATBFD), and the Chamber of Auditors (CoA). Although the LoAA 
provides for existence of a Union of Auditors, the legislation does not delegate any regulatory 
function to professional bodies, and there is no requirement for either accountants or auditors to 
belong to any of them. It is not known how many Uzbek auditors are not members of a 

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The Republic of Uzbekistan – Accounting and Auditing ROSC 
 
- 13 - 
 
professional body. The role of these bodies in regulating the profession is, therefore, quite 
limited.
40. The NAAA (or, rather, its predecessor) was founded in 1992 and is an associate 
member of IFAC and a full member of the Eurasian Council of Certified Accountants and 
Auditors (ECCAA), as well as an ordinary member of Association of Accountants and