ORDER OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF UZBEKISTAN

of February 14, 2001 No. 19

About approval of the National standard of auditor activities of the Republic of Uzbekistan (NSAD No. 90) "Professional services of auditing organizations"

Based on articles 17 and 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", Regulations on the Ministry of Finance of the Republic of Uzbekistan I order:

1. Approve the enclosed National standard of auditor activities of the Republic of Uzbekistan (NSAD No. 90) "Professional services 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.

 

Approved by the Order of the Minister of Finance of the Republic of Uzbekistan of February 14, 2001, No. 19

National standard of Auditor activities (NSAD No. 90) "Professional services of auditing organizations"

This National Standard of Auditor Activities (NSAA) No. 365 "About enhancement of auditor activities and increase in role of audit inspections" is developed on the basis of the Law of the Republic of Uzbekistan "About auditor activities", resolutions of the Cabinet of Ministers of the Republic of Uzbekistan of September 22, 2000 and is element of normative auditing regulation in the Republic of Uzbekistan.

§ 1. General provisions

1. The purpose of this National standard is determination:

the list of the professional services rendered by auditing organizations;

the specific questions resolved in case of the conclusion of the contract for rendering professional services;

contents of the report of the auditor on results of the rendered professional services.

2. Requirements of this standard are obligatory for all auditing organizations when rendering professional services.

3. The auditing organization has the right to render any professional services determined by the legislation and this standard in the activities.

§ 2. Procedure for rendering professional services

4. Professional services are rendered based on the contract for rendering professional services signed between auditing organization and the customer of these services.

In case of agreement performance the auditor carries out the procedures approved between the auditor, business entity (customer) and if necessary with any third parties and submits the report on results of the rendered professional services with valid conclusions.

5. The auditor bears responsibility for results of the rendered professional services according to the legislation.

6. The business entity (customer) has the right to draw own conclusions according to the report on results of the rendered professional services.

7. The report is submitted to the customer of professional services in amount and in terms in accordance with the terms of the contract for rendering professional services.

§ 3. List of professional services

8. The auditing organization can render the following professional services:

a) statement, recovery and financial accounting:

organization and conducting managerial accounting;

organization, recovery and maintaining financial accounting;

automation (computerization) of financial accounting;

other services connected with statement, recovery and financial accounting;

b) financial reporting preparation;

c) the translation of the national financial reporting on international accounting standards;

d) analysis of financial and economic activities of business entities:

financial analysis;

liquidity analysis;

solvency analysis;

other services connected with the analysis of financial and economic activities;

e) consulting on financial accounting, the taxation, planning, management and other questions of financial and economic activities:

preparation of the feasibility statements (FS), development and assessment of investment projects and business plans;

consultations concerning financial accounting and the taxation;

consultations on financial management;

carrying out marketing researches;

the analysis of procedures and methods of functioning of business entity for the purpose of assessment of performance and efficiency;

other consulting services in the field of financial and economic activities;

e) creation of calculations and declarations on taxes and other obligatory payments:

organization and conducting tax accounting;

preparation of objections under acts of checks of tax authorities;

creation of calculations and declarations on taxes and other obligatory payments;

other services connected with tax accounting and the taxation;

d) other services:

carrying out researches, seminars, conferences, developments in the area connected with auditor activities and distribution of their results, including in printing;

preparation in accordance with the established procedure education guidances, educational and methodical materials on financial accounting, audit, the analysis of financial and economic activities and the taxation.

§ 4. The general principles of agreement performance on rendering professional services

9. When rendering professional services the auditor shall be guided by requirements of the current legislation strictly.

§ 5. The questions resolved in case of the conclusion of the agreement

10. The contract for rendering professional services is constituted and consists according to the procedure, established by the legislation.

11. The auditing organization needs to reflect also following questions in the agreement:

the amount of financial information and the accounting periods which are subject to scope professional services;

the procedures which are subject to accomplishment for the purpose of receipt of the necessary for creation of the report on results rendered services of proofs in the established subject of the agreement;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info