National Bank of the Republic of Tajikistan convenes audit firms and Ministry of Finance to address shortcomings in insurers’ mandatory external audits

The National Bank of the Republic of Tajikistan held a working meeting with audit firms authorised to audit insurance organisations, representatives of the Ministry of Finance, and relevant central bank units to review the state of the insurance system and address weaknesses in the mandatory external audit of insurers’ and reinsurers’ financial statements. Discussions focused on the importance and quality of external audits, recurring problems in audit opinions, and the National Bank’s supervisory actions in this area. The National Bank noted that, following the transfer of insurance supervisory powers to the central bank, it has taken steps supporting the formation and development of the insurance system. In 2025, it also developed and adopted a set of subordinate regulatory acts to regulate insurance-sector accounting and financial reporting, including rules and norms for allocations to insurance reserve funds, procedures and deadlines for preparing and submitting financial statements, and a chart of balance sheet accounts and account descriptions for insurance and reinsurance organisations. The meeting concluded with a call for stakeholders, particularly audit firms, to align their work with audit standards and operate in line with legality, impartiality and integrity to support transparency in the insurance system and strengthen public trust in insurance services.