RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of September 28, 2022 No. 538

About approval of the Regulations on procedure for carrying out external control of quality of work of auditing organization

(Extraction)

For the purpose of ensuring execution of the Law of the Republic of Uzbekistan "About auditor activities" and resolutions of the President of the Republic of Uzbekistan of August 4, 2021 No. PP-5210 "About additional measures for enhancement of system of certification of auditors" the DECIDES: Cabinet of Ministers

1. Take into consideration that Item 10 of "Road map" on implementation in regions of the republic of advanced methods of training of qualified specialists in the sphere of audit and to further enhancement of regulatory framework in the sphere of the auditor activities approved by the resolution of the President of the Republic of Uzbekistan of August 4, 2021 No. PP-5210, provides determination of procedure for carrying out external control of quality of work of auditing organization on basis risk analysis of results of activities of auditing organization.

2. Approve Regulations on procedure for carrying out external control of quality of work of auditing organization according to appendix No. 1 *, providing:

implementation risk analysis of auditing organization on the basis of information obtained from information system of the program Audit complex and within interdepartmental information exchange;

carrying out external control of quality of work of auditing organization by results risk analysis and estimates of level of risks;

publication of information on the violations revealed in activities of auditing organization by results of external control of quality and the taken measures on the official website of the Ministry of Finance.

3. To the Ministry of Finance to organize practical actions for explanation to auditing organizations of the purpose and contents of this resolution.

4. Make changes and additions to some decisions of the Government according to appendix No. 2.

5. This resolution becomes effective after three months from the date of its official publication.

6. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan on financial and economic questions and questions of reducing poverty - the Minister of Economic Development and reducing poverty of Kuchkarov D. A. and Minister of Finance of the Republic of Uzbekistan Ishmetov T. A.

Appendix No. 2

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of September 28, 2022 No. 538

Changes and additions made to some decisions of the Government of the Republic of Uzbekistan

1. In the Regulations on service of internal audit at the companies approved by the resolution of the Cabinet of Ministers of October 16, 2006 No. 215:

a) in Item 6 to exclude the word "qualification";

b) add with Item 24-1 of the following content:

"24-1. The supervisory board of the company on the basis of competitive selection appoints employees of service of internal audit, and also ahead of schedule stops their powers in case of identification during audit inspection or check of monitoring bodies of the shortcomings connected with activities of employees of service of internal audit".

2. In Provisional regulations for the procedure for expense recovery for training in international accounting standards and examination within the international certification of accountants approved by the resolution of the Cabinet of Ministers of January 26, 2021 No. 38:

a) add Item 16 with paragraphs of the following content:

"the copy of the document or the reference, confirmatory that the applicant is the employee of state body, pedagogical shot or the student of the highest educational institution;

the copy of the diploma about the higher education (this document is submitted only by graduates of the highest educational institutions)";

b) in Item 28:

add with the paragraph the seventh the following content:

"the copy of the document or the reference, confirmatory that the applicant is the employee of state body, pedagogical shot of the highest educational institution";

to consider paragraphs of the seventh and eighth respectively paragraphs the eighth and ninth.

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