DEVELOPMENT OF NATIONAL FINANCIAL REPORTING STANDARDS (NFRS) BASED ON IFRS: CONCEPTUAL AND LEGISLATIVE INNOVATIONS IN UZBEKISTAN
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IFRS, NFRS, Uzbekistan, accounting reform, standard-setting, convergenceAbstrak
This study examines the development of National Financial Reporting Standards (NFRS) in Uzbekistan as a localized adaptation of International Financial Reporting Standards (IFRS). It analyzes the conceptual foundations, legislative transformations, and institutional challenges associated with embedding IFRS principles into domestic accounting regulation. Using a qualitative doctrinal and comparative approach, the paper evaluates whether NFRS represents substantive convergence or merely formal harmonization. The findings suggest that Uzbekistan is transitioning toward a hybrid accounting model that integrates IFRS-based concepts within national legal frameworks, although significant challenges remain in enforcement, professional capacity, and practical implementation.
Iqtiboslar
IFRS Foundation. (2023). Conceptual Framework for Financial Reporting.
World Bank. (2022). Uzbekistan Financial Sector Reform Review.
Government of Uzbekistan. (2024–2025). Accounting Reform and NFRS Development Policy Documents.
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