Multidisciplinary Journal of Science and Technology

THE ROLE OF THE ACCOUNTING AND AUDIT SYSTEM IN ECONOMIC DEVELOPMENT

Eshqorayev Javohir

Termez State University of Engineering and Agrotechnology, Faculty of Economics, Forestry and Veterinary Medicine, Accounting and Auditing Department

##semicolon## Audit, auditor, audit activities, license, audit report, audit organization, internal audit, external audit, national standards (AFMS), financial reporting, legal framework, control, accounting, legislation, responsibility

सार

This article discusses the legal and regulatory framework of auditing activities, in particular, how auditing is regulated in the Republic of Uzbekistan in the areas of external and internal audit, the rights and obligations of audit organizations, and the requirements for licensing the audit process. The Law “On Auditing Activities” and the National Standards of Auditing Activities are analyzed as the main documents that determine the organizational, methodological and professional rules of the audit process. The professional responsibility of audit organizations, the norms regulating relations with clients, and the procedure for formalizing audit results are also explained. The study concludes with proposals aimed at ensuring transparency in the audit process, preventing conflicts of interest, and increasing the reliability of financial statements.

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