TRANSFORMING ACCOUNTING DEPARTMENTS IN UZBEKISTAN'S COMMERCIAL BANKS: THE IFRS 9 EXPERIENCE

Le résumé fourni par la source

The adoption of IFRS 9 Financial Instruments has signified a crucial change for accounting divisions in Uzbekistan's commercial banks, necessitating a transition from conventional, retrospective credit loss acknowledgement to sophisticated, prospective anticipated credit loss (ECL) modelling. This study rigorously analyses how these divisions managed the intricacies of adopting IFRS 9, emphasizing the interaction among statutory requirements, technical proficiency, and organizational transformation. Utilizing a triangulated qualitative approach—featuring international benchmarking (Deloitte, 2022), comprehensive local case studies (Innoscie Journal), and empirical evaluations of professional practices and results (Interfinance Journal)—the research reveals the obstacles and advancements prompted by the new standard. Findings indicate that, despite the transition revealing considerable deficiencies in risk modelling proficiency, data architecture, and internal governance, accounting divisions reacted with focused skill enhancement, process reengineering, and interdisciplinary cooperation. The transition to ECL approach has significantly enhanced the promptness, precision, and clarity of credit risk reporting, while augmenting the strategic importance of accounting experts in bank management. These results enhance the theoretical and practical dialogue about regulatory change in developing economies, emphasizing the necessity of ongoing capacity development and technical investment for effective IFRS implementation.

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