Uzbekistan postpones introduction of international financial accountability standards
Uzbekistan, Tashkent, Feb.20 /Trend D.Azizov/
Uzbekistan has postponed the introduction of international financial accountability standards for its treasury and state budget for two years until Jan. 1, 2014, a government source told Trend on Monday.
The source said the system's introduction has been postponed for technical reasons.
The source did not say why the IFRS system was delayed, stating that training needs to be improved, as well as various processes of the treasury.
The treasury presently uses national accounting standards. The law on treasury execution for the state budget came into force six years ago and provides the legal basis for the treasury's establishment and functioning.
The Finance Ministry said the new methods will resolve problems related to the misuse of budget funds.
The official exchange rate on Feb.20 is 1824 soum/$1.