On October 26–27, Ernst & Young (EY) held a two-day event in Tashkent dedicated to changes in International Financial Reporting Standards (IFRS) and new requirements for sustainability-related disclosures.
Young professionals from the Republican Stock Exchange “Toshkent” also participated in the event, gaining insights into recent developments in international standards and their application in Uzbekistan.
The discussions focused on the following key areas:
- IFRS 18 — new requirements for the presentation and disclosure of information in financial statements, including changes in the presentation of financial performance;
- IFRS S1 — general requirements for the disclosure of sustainability-related financial information;
- IFRS S2 — requirements for disclosing information about climate-related risks and opportunities.
In addition, participants discussed the implementation of these standards in Uzbekistan, new approaches to financial reporting, and changes in disclosure practices.
These developments in international standards are important for enhancing the transparency and comparability of issuers’ financial statements and providing investors with more structured information on financial performance and sustainability-related risks.