PHASES OF IMPLEMENTING INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN UZBEKISTAN AND ENSURING SUSTAINABLE DEVELOPMENT
Niyazmetov Mansur Ruzmatovich, Ostonokulov Azamat Abdukarimovich, Ochildiyev Bexruz Tulqin ugli
International School of Finance Technology and Science (ISFT), Uzbekistan
Abstract
The transition to International Financial Reporting Standards (IFRS) in Uzbekistan is a key initiative aimed at enhancing financial transparency, attracting foreign investment, and promoting sustainable economic growth. This article examines the main challenges, solutions, and expected benefits in IFRS adoption in Uzbekistan. It emphasizes the importance of regulatory reforms, education, and technological upgrades in facilitating this transition. The analysis underscores the potential of IFRS to improve Uzbekistans integration into the global economy and its impact on sustainable development.
Keywords: IFRS, Financial Transparency, Economic Growth, Global Integration
Journal Name :
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International Journal of Global Economic Light (JGEL)
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Published on : 2024-05-30
Vol | : | 10 |
Issue | : | 5 |
Month | : | May |
Year | : | 2024 |