Problems And Prospects Of Transition To International Financial Reporting Standards (IFRS) In Commercial Banks Of Uzbekistan

This article analyzes the significance of implementing International Financial Reporting Standards (IFRS) in the process of integrating Uzbekistan's banking system with international financial markets. Within the framework of the study, the differences between National Accounting Standards (NAS) and IFRS are highlighted, specifically the impact of IFRS 9 "Financial Instruments" on banking operations. The author examines the Expected Credit Loss (ECL) assessment model and existing barriers to its practical implementation, such as human resource capacity, technical capabilities of information systems, and challenges in database formation. At the end of the article, practical recommendations are developed to improve the quality of reporting, ensure financial stability, and gain the trust of international investors in commercial banks.