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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of March 13, 2019 No. 218

About measures for enhancement of procedure for licensing of auditor activities

(as amended on 16-06-2020)

According to the resolution of the President of the Republic of Uzbekistan of September 19, 2018 "About measures for further development of auditor activities in the Republic of Uzbekistan" the Cabinet of Ministers decides No. PP-3946:

1. Approve Regulations on procedure for licensing of auditor activities according to appendix No. 1.

2. Recognize invalid some decisions of the Government of the Republic of Uzbekistan according to appendix No. 2.

3. To impose control of execution of this resolution on the deputy prime minister - the Minister of Finance of the Republic of Uzbekistan D. A. Kuchkarov.

Prime Minister of the Republic of Uzbekistan

Abdullah Aripov

Appendix № 1

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of March 13, 2019 No. 218

Regulations on procedure for licensing of auditor activities

Chapter 1. General provisions

1. This Provision determines procedure for licensing of auditor activities in the territory of the Republic of Uzbekistan.

2. Auditor activities, except for professional services, the stipulated in Article 17 Laws of the Republic of Uzbekistan "About auditor activities", are performed only in the presence of the license for implementation of auditor activities (further - the license).

Licensing of auditor activities is performed by the Ministry of Finance of the Republic of Uzbekistan (further - the licensing body).

The license is granted according to the statement of auditing organization.

In the statement the e-mail address of auditing organization can be specified obtaining or renewal of the license. Instruction in the statement on obtaining or renewal of the license of the e-mail address of auditing organization is consent to receipt of the notification on the made decision according to the statement by means of information system.

Documents are submitted by auditing organization to the licensing body directly, through means of mail service or electronically with the notification on their obtaining. The documents submitted electronically are confirmed by the digital signature of auditing organization.

3. The decision of the licensing body on issue, on refusal in licensing, about the termination, suspension for the term of no more than ten working days or renewal of action of the license, and also its cancellation is drawn up by the order of the Minister of Finance of the Republic of Uzbekistan.

The decision of the licensing body on issue, on refusal in licensing, about the termination, suspension for the term of no more than ten working days or renewal of action of the license, and also its cancellation is carried to auditing organization in written or electronically by means of information system within three days from the date of decision making.

Chapter 2. The documents submitted for receipt of the license

4. The auditing organization registered in accordance with the established procedure for receipt of the license submits in the licensing body the application on receipt of the license for implementation of auditor activities (further - the statement on receipt of the license) in form according to appendix No. 1 to this Provision with appendix of service records (copies are made, originals return) and copies of orders on employment of regular auditors on principle place of employment in the quantity corresponding to the minimum number of the regular auditors assured on place of employment provided by this Provision.

The commercial organization which did not submit in the licensing body the application on receipt of the license within three months from the date of the state registration having no right to use in the name words "auditing organization".

The requirement from auditing organization of submission of the documents which are not provided by this Provision is not allowed.

The licensing body independently obtains the documents and information, necessary for licensing, which are available in other authorized bodies, in accordance with the established procedure by means of information exchange, including in electronic form, except for the documents and information provided by this Item.

The licensing body together with the Agency of the state services under the Ministry of Justice of the Republic of Uzbekistan quarterly perform comparison of the auditing organizations this the register having the license to information on the auditing organizations registered in accordance with the established procedure.

Chapter 3. Procedure for consideration of the application on receipt of the license

5. The application with all necessary documents for receipt of the license is considered by the licensing body.

The term of consideration of documents of auditing organization and decision making about issue or about refusal in licensing constitutes fifteen calendar days from the date of receipt of the statement and necessary documents for receipt of the license.

6. For consideration by the licensing body of the statement on receipt of the license collection in the amount of one basic settlement size is levied (for date of submission of the statement on receipt of the license in the licensing body).

The collection amount for consideration of the application on receipt of the license is credited into the special account of the licensing body.

In case of refusal auditing organization from the submitted application on receipt of the license collection is not subject to return.

Chapter 4. Procedure for decision making about issue or about refusal in licensing

7. The license is granted without restriction of term of its action. The license is drawn up on the special form of the established sample in form according to appendix No. 2 to this Provision.

Issue of licenses is performed according to the scheme according to appendix No. 3 to this Provision.

8. In the notification on licensing bank account details on which the state fee, and payment due date of the state fee is brought are specified.

If the licensing body during the term of consideration of the application on receipt of the license does not make the decision on issue or on refusal in licensing, then after the specified term the auditing organization has the right to perform auditor activities, having in writing notified on it the licensing body. At the same time the licensing body within five working days on receipt of the written notice of auditing organization shall grant the license.

9. The license is drawn up and issued in two-day time after representation by auditing organization of the document confirming payment of the state fee, and signing of the license agreement by it.

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