Golib Tashmanov,
PhD, associate professor of “Accounting” department, Tashkent State University of Economics, Tashkent, Uzbekistan. Email: g.tashmanov@tsue.uz
ORCID:0000-0002-4885-3286
Abstract: In this article, special attention is paid to the issue of further improvement of the activities of joint stock companies in recent years in our country, including sale of shares to foreign investors. In order to achieve this goal, there is a need to prepare financial reports of joint stock companies based on international standards for foreign investors. Annex 2 “Regulations on internal audit service in enterprises” to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan dated October 16, 2006 No. 215 on the formation of the legal basis for the internal audit service in joint-stock companies was developed, which contains general rules, the main tasks and functions of the internal audit service, the internal audit service rights and obligations, requirements for the internal audit service, independence of the internal audit service and requirements for compiling a summary report on the results of its conduct, responsibility of the internal audit service are determined. The internal auditors certification system was established by the Institute of Internal Auditors in 1974, and 654 candidates took the competency exam at 41 testing centers in the United States. Today, professional international standards of internal auditing have been developed by the Institute of Internal Auditors and are implemented in more than 170 countries and translated into about 30 languages. The International Institute of Internal Auditors has more than 200,000 internal auditor members, providing the Certificate of Internal Audit (CIA) in 800 examination centers in 12 national languages. These internal auditors contribute to the economic growth and efficient operation of enterprises. The reports and recommendations on internal audit processes implemented on the basis of professional international standards of internal audit provide not only local investors, but also foreign investors with necessary and reliable information. International experience shows that internal auditors should not be limited to the examination of financial and economic operations carried out in joint-stock companies, but should also cover the assessment of future management and economic risks, monitoring of the internal control system.
Key words: internal audit, audit, certificate, institute of internal auditors, economic risk, financial risk