Plans for financial oversight presented

    On January 20, President Shavkat Mirziyoyev reviewed a presentation by the Accounts Chamber on the results of its work in 2024 and key objectives for 2025.

    Financial oversight is crucial for the proper allocation of funds and the effective implementation of programs. In recent years, the activities of the Accounts Chamber have undergone significant changes, transforming it into a body that ensures compliance with budgetary discipline at the regional level. Instead of outdated inspection methods, an audit system based on international standards has been introduced. As a result, Uzbekistan has risen to the “good” level in the World Bank’s External Audit Indicator.

    On July 10, 2024, the Presidential Decree on additional measures to strengthen financial oversight in using budgetary funds was issued. This decree outlines measures to enhance internal audit systems within ministries and state agencies and to conduct external audits of consolidated budget execution.

    The digital transformation process within the agency continues, with the implementation of the Remote Audit automated information system, which has already been integrated with 34 ministries and agencies.

    As a result, in 2024, the Accounts Chamber ensured additional budget revenues of 3.7 trillion UZS through newly identified sources. Inefficient expenditures by ministries and agencies were optimized by 9.2 trillion UZS, and financial mismanagement of 2.3 trillion UZS was prevented. In public procurement, irregularities totaling 4.5 trillion UZS were identified and rectified.

    During the meeting, it was emphasized that systematic efforts in this area must continue in the current year.

    The Remote Audit system will be expanded to enhance financial oversight to integrate the databases of 110 ministries and agencies. This expansion will enable comprehensive monitoring of 480 trillion UZS in yearly budget expenditures.

    Identifying additional sources of budget revenue, preventing financial and other risks, and monitoring the economic activities of state-owned enterprises remain ongoing priorities.

    This year, measures will be taken to collect 309 trillion UZS in budget revenues. Additionally, the practice of conducting audits of projects financed by international financial institutions in accordance with international standards will be introduced.

    The President emphasized the importance of strict adherence to financial discipline and cost efficiency across all government agencies.