Meliev Isroil,
Tashkent Financial Institute of the Republic of Uzbekistan
Head of the monitoring and internal control department.
Tashkent, Uzbekistan. Email: melievisroil1981@gmail.com
ORCID: 0000-0002-0976-7406
Abstract. This article is devoted to the issues of formation of financial reporting based on international standards and organization of its audit in the practice of Uzbekistan, its introduction reveals the essence of the relevance of formation of financial reporting and organization of its audit in the Republic based on international standards, conducting research in this field . In the “discussion” part of the article, the opinions expressed by the economists who conducted scientific research on this topic, their scientific views and the aspects of their opinions different from the author’s scientific ideas are highlighted on the basis of theoretical opinions. In this, the sources reflecting the ideas of every economist who conducted research on the topic of the article are reflected in detail. Also, what kind of research methods were used to clarify the content of the article, the essence of the decisions that can be made based on the practical data analyzed on the topic and the achieved scientific results are revealed. According to the results of the study, the problems of implementing international standards of financial reporting and international standards of auditing and the consequences of their non-application, the possibilities of applying international standards in practice, the procedure for implementing financial reporting transformation and the features of organizing financial reporting audits based on international standards and practical recommendations for improving this process are presented based on the author’s scientific research. Based on the results of the research, the author of the article researched a number of problems awaiting their solution in the audit practice of Uzbekistan on the formation of financial statements based on international standards and organization of its audit, and formulated practical recommendations for their positive solution. At the end of the article, the researcher summarized the scientific and practical conclusions within the topic and gave relevant recommendations. The list of literature used in forming the form and content of the article is reflected based on the established order
Key words. Financial reporting, international standards of financial reporting, international standards of auditing, financial reporting transformation, financial reporting forms, reliability of financial reporting, users of financial reporting