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The document ceased to be valid since  July 30, 2021 according to the Order of the Minister of Finance of the Republic of Uzbekistan of July 2, 2021 No. 43

Registered by

Ministry of Justice

Republic of Uzbekistan

On September 25, 2006 No. 1624

ORDER OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF UZBEKISTAN

of August 21, 2006 No. 76

About approval of the National standard of auditor activities of the Republic of Uzbekistan (NSAD No. 4) "Requirements imposed to internal standards of auditing organizations"

(as amended on 30-05-2017)

Based on article 21 of the Law of the Republic of Uzbekistan "About auditor activities" and according to the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of September 22, 2000 to No. 365 "About enhancement of auditor activities and increase in role of audit inspections", the Regulations on the Ministry of Finance of the Republic of Uzbekistan approved by the Resolution of the President of the Republic of Uzbekistan of March 18, 2017 No. PP-2847, I order:

1. Approve the enclosed National standard of auditor activities of the Republic of Uzbekistan (NSAD No. 4) "Requirements imposed to internal standards of auditing organizations".

2. This order becomes effective after ten days from the moment of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

 

Minister
R. Azimov

Approved by the Order of the Minister of Finance of the Republic of Uzbekistan of August 21, 2006 No. 76

The national standard of auditor activities of the Republic of Uzbekistan (NSAD No. 4) "Requirements imposed to internal standards of auditing organizations"

I. General provisions

1. This National standard of auditor activities (further - the Standard) according to the Law of the Republic of Uzbekistan "About auditor activities" determines requirements imposed to internal standards of auditing organizations.

2. The purpose of this Standard is unification of the principles and approaches of auditing organizations to development of internal standards, and also requirements to procedure and the organization of internal control behind their application.

3. Tasks of the Standard are:

a) determination of the single principles of development of internal standards of auditing organizations;

b) establishment of mandatory requirements to auditing organizations in case of development of internal standards;

c) the description of procedure of internal control behind observance by auditors (employees) of auditing organizations of requirements of internal standards.

4. Development and practical application of internal standards are obligatory for all auditing organizations.

5. This Standard does not set the purpose to regulate form, content and procedure for preparation of the internal regulating documents of auditing organizations on the questions which are going beyond professional aspects of implementation of auditor activities.

II. Appointment and principles of preparation of internal standards of auditing organization

6. Internal standards of auditing organization are understood as the documents determining the single requirements to implementation and registration of audit accepted and approved by auditing organization for the purpose of ensuring efficiency of carrying out audit inspection and its compliance to requirements of National standards of auditor activities of the Republic of Uzbekistan.

7. The auditing organization shall create the packet of internal standards reflecting it own approach to a carried-out audit inspections and the constituted audit reports and the conclusions taking into account requirements of National standards auditor activities of the Republic of Uzbekistan to the organization and carrying out audit inspection.

8. Internal standards of auditing organizations shall contain the specific recommendations allowing auditors to determine accurate procedure for the actions for fulfillment of requirements of National standards of auditor activities of the Republic of Uzbekistan for improvement of quality of audit inspections in practice.

9. Internal standards regulate activities of auditors within this auditing organization and provide basis for settlement of the possible conflicts between employees and management of auditing organization.

10. Application of internal standards allows auditing organizations:

a) reduce labor input of auditor works on checks of certain sites (by means of working tables and questionnaires, other documents of technical nature), to provide additional control of work of assistant auditors;

b) increase quality of auditor work and promote decrease in audit risk.

11. Requirements of internal standards of auditing organizations shall regulate implementation of auditor activities according to the basic principles of National standards of auditor activities of the Republic of Uzbekistan.

12. Internal standards formulate single requirements to procedure for carrying out audit inspection, to quality and reliability of audit inspection.

13. Internal standards shall determine general approach of auditing organization to carrying out audit irrespective of conditions in which audit inspection is carried out.

14. The accepted and approved standards, methodical developments, benefits and other documents obligatory to application in auditing organization opening internal approaches to implementation of auditor activities belong to internal standards of auditing organization.

15. Internal standards are part of organizational and administrative documentation and internal control system of auditing organization.

16. Internal standards of auditing organizations shall have practical benefits:

each subsequent internal standard shall provide coordination and interrelation with other internal standards and not to contradict National standards of auditor activities of the Republic of Uzbekistan;

provide the clearness of formulations, integrity and clarity of statement; to completely cover questions of this standard, to logically develop the stated principles and provisions;

contain identical interpretation of terms in all internal standards.

17. Internal standards shall represent in total the description of integrated approach of auditing organization to the organization and technology of carrying out audit inspection.

18. In case of development of the internal standards intended for carrying out audit inspection, auditing organizations shall be guided by the National standards of auditor activities of the Republic of Uzbekistan and other acts of the legislation of the Republic of Uzbekistan regulating auditor activities.

19. In case of development of the internal standards intended for carrying out audit inspection according to international standards of audit, auditing organizations shall be guided by the regulations and the principles provided in international standards of audit.

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