METHODOLOGICAL APPROACHES TO AUDITING ASSET VALUATION UNDER IFRS IN EMERGING ECONOMIES: THE CASE OF UZBEKISTAN
Abstract
As Uzbekistan undergoes rapid economic liberalization, the transition to International Financial Reporting Standards (IFRS) has become a pivotal factor for institutional transparency. This research investigates the methodological intricacies of auditing asset valuations, specifically focusing on the shift from historical cost to the "Fair Value" paradigm (IFRS 13). The study identifies critical gaps in the application of impairment tests (IAS 36) within the national accounting framework and evaluates the impact of market volatility on audit evidence reliability. By synthesizing international best practices with local market characteristics, the author proposes a "Risk-Based Verification Model" to mitigate audit failures and enhance the fidelity of financial disclosures.