of April 4, 2007 No. PP-615
About further enhancement of activities of auditing organizations and increase in their responsibility for quality of the rendered services
Note that in the republic the necessary legislative legal base for implementation of auditor activities is created, efficient economic incentives and tax benefits and preferences for its active development are created, the system of issue of licenses is significantly simplified and liberalized.
At the same time practical measures on the organization of activities of auditing organizations take root slowly and not always qualitatively, the state of affairs in system of audit which did not become the efficient tool of real efficiency evaluation of business yet does not meet the increased requirements. Audit inspections are often carried out formally and at the low professional level, the system of audit does not enjoy due confidence in the financial market yet.
According to the Law of the Republic of Uzbekistan "About auditor activities" and for the purpose of further development of system of substantive audit, improvement of quality of auditor services, implementation of effective methods of regulation of activities of auditing organizations, strengthening of their responsibility for results and objectivity of audit inspections, increases on this basis of trust to them from entrepreneurial structures:
1. Consider unsatisfactory execution by the Ministry of Finance of the Republic of Uzbekistan of the functions assigned to it by the Resolution of the Cabinet of Ministers of September 22, 2000 No. 365, as specially authorized state body on licensing of auditor activities.
2. Approve Regulations on auditing organizations according to appendix.
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The document ceased to be valid since January 11, 2019 according to Item 2 of the Presidential decree of the Republic of Uzbekistan of January 10, 2019 No. UP-5620