Issues in Improving Auditing Practices in Uzbekistan (American Journal of Economics and Business Management)

Summary

• In the first quarter of 2026, Uzbekistan had 176 audit firms and 1,337 certified auditors, reflecting year-on-year increases of 10 per cent and 9 per cent, respectively.p.3
• Between 2021 and the first quarter of 2026, the number of audit firms increased by 80 from 96 to 176, while certified auditors grew by 686 from 651 to 1,337.p.3
• Total revenues of audit firms reached UZS 785.77 billion in 2025, representing a 31 per cent increase compared to 2024.p.4
• Nominal revenues from audit services grew from UZS 206.4 billion in 2020 to UZS 786.0 billion in 2025, recording a cumulative nominal growth of approximately 280.8 per cent.p.4
• The share of unmodified audit opinions increased by 6.57 percentage points between 2022 and 2025, rising from 85.30 per cent to 91.87 per cent.p.5
• The proportion of qualified audit opinions declined by 3.9 percentage points over four years, falling from 10.00 per cent in 2022 to 6.10 per cent in 2025.p.5

Key insights

1. The ratio of certified auditors per audit firm rose from approximately 5.8 in 2019 to approximately 7.4 in 2025, indicating potential concentration of personnel in larger firms.p.4
2. The largest single-year absolute increase in audit market revenue occurred between 2024 and 2025, rising by UZS 186.0 billion.p.4
3. Practical audit execution in Uzbekistan is constrained by unhealthy price-based competition, shortages of ISA and IFRS specialists, and limited tech budgets in smaller firms.p.6
4. Digitalisation of auditing processes through artificial intelligence and automated tools must be combined with cybersecurity controls and professional human judgment.p.8