Today’s crisis processes worldwide have a significant impact on the economy. Saving and accumulating funds is becoming increasingly complicated. In such conditions, efficient use of available resources, economy, and accuracy become especially important.

At a meeting on priority tasks in the economy held on January 16 this year, the Head of state specifically focused on the issue of the efficiency of budget expenditures and gave instructions to strengthen financial control.

As is known, this function is performed by the Accounts Chamber of the Republic of Uzbekistan. In the current system, only budget and trust fund expenditures are covered by external audit. This represents 86 percent of total expenses.

Therefore, it is proposed that the Accounts Chamber conduct an external audit of the execution of the consolidated budget. This will allow the costs of extra-budgetary funds and external debt to be covered.

It is planned to introduce the practice of strategic auditing into the activities of the Accounts Chamber, aimed at assessing possible risks in achieving national goals and objectives in government programs, as well as auditing information technologies on the effectiveness of software in government organizations.

There are about 30,000 budgetary organizations and state enterprises in Uzbekistan, and studying their activities requires a lot of time and money. Therefore, the Accounts Chamber has launched a Remote Control Center. The need to improve 36 criteria and indicators of risk analysis based on advanced foreign experience was noted.

In recent years, large amounts of money have been spent on regional development. However, local councils are mainly limited to the regional or district budget when discussing the budget. This means that 65-70 percent of the funds allocated to each region from all sources remain outside their control.

In this regard, it was noted that the Accounts Chamber should discuss the budget process in the chambers of the Oliy Majlis and local councils.