National Electric Grid of Uzbekistan Joint Stock Company (NEGU JSC) is pleased to announce the successful completion of the independent audit of its 2025 consolidated financial statements prepared in accordance with the International Financial Reporting Standards (IFRS).

 

In accordance with the implementation of the Resolution of the President of the Republic of Uzbekistan No. PD-4611 dated 24 February 2020 “On Additional Measures for the Transition to International Financial Reporting Standards”, NEGU JSC has been consistently implementing comprehensive measures aimed at adopting IFRS and strengthening its corporate financial reporting framework.

 

As a result of the systematic reforms led by Mr. Abdumalik Abdusalimovich Nazirov, Chairman of the Management Board of NEGU JSC, Ernst & Young LLC, one of the world's leading Big Four audit firms, previously issued unmodified independent auditor's opinions on the Company's IFRS financial statements for each financial year from 2020 through 2024.

 

For the financial year ended 31 December 2025, NEGU JSC achieved another significant milestone by becoming one of the first companies in Uzbekistan's energy sector to fully implement IFRS-based consolidated financial reporting and once again receive an unmodified independent auditor's opinion from an internationally recognized Big Four audit firm.

 

It is noteworthy that, pursuant to the Resolution of the President of the Republic of Uzbekistan No. PD-282 dated 15 September 2025, "On Measures to Improve the Financial Reporting System in Line with International Requirements and Standards," all Public Interest Entities will be required to maintain their accounting records in accordance with International Financial Reporting Standards (IFRS) beginning 1 January 2027. Within this framework, audits conducted by internationally recognized Big Four audit firms contribute significantly to aligning financial reporting practices with international best practices, strengthening corporate governance, and supporting the consistent implementation of ongoing economic reforms.

 

The audit of the Company's IFRS consolidated financial statements was conducted by specialists of Ernst & Young LLC over the period from November 2025 through the end of June 2026.

 

Notably, receiving an unmodified independent auditor's opinion for the sixth consecutive year on its IFRS consolidated financial statements demonstrates the Company's continued commitment to financial transparency, high-quality corporate governance, and compliance with international financial reporting standards. This achievement represents another important milestone in strengthening NEGU JSC's international credit profile, enhancing investor confidence, and reinforcing its credibility among international financial institutions and global capital markets.

 

✍️ Department for Financial Reporting in Accordance with International Standards

 

Here are links to this topic published by the Information Service:

 

24.10.2025 — The Joint Stock Company Prepared Its Financial Statements for the First Half of 2025 in Accordance with International Standards.

https://uzbekistonmet.uz/en/lists/view/7457

 

21.07.2025 — The Joint Stock Company “National Electric Grid of Uzbekistan” has prepared its Consolidated Financial Statements for the 6 months ended 2024 in accordance with International Financial Reporting Standards (IFRS).

https://uzbekistonmet.uz/en/lists/view/6837

 

30.06.2025 — The financial report of “National Electric Grids of Uzbekistan” JSC, prepared for 2024, received a positive audit opinion from the international company “Ernst & Young” LLC.

https://uzbekistonmet.uz/en/lists/view/6724

 

01.07.2024 — The financial report of JSC "National Electric Grid of Uzbekistan" for 2023 received a positive audit opinion from the international company "Ernst & Young" LLC.

https://www.uzbekistonmet.uz/en/lists/view/5387

03.07.2023 — The financial report of “National Electric Grids of Uzbekistan” JSC, prepared for 2022, received a positive audit opinion from the international company “Ernst & Young” LLC

https://www.uzbekistonmet.uz/en/lists/view/4127

 

02.07.2022 — The financial report of “National Electric Grids of Uzbekistan” JSC, prepared for 2021, received a positive audit opinion from the international company “Ernst & Young” LLC

https://www.uzbekistonmet.uz/en/lists/view/2622

 

06.07.2022 — The financial report of “National Electric Grids of Uzbekistan” JSC, prepared for 2021, received a positive audit opinion from the international company “Ernst & Young” LLC

https://www.uzbekistonmet.uz/en/lists/view/2527

 

06.07.2022 — THE FINANCIAL REPORT OF “NATIONAL ELECTRIC GRIDS OF UZBEKISTAN” JSC, PREPARED FOR 2021, RECEIVED A POSITIVE AUDIT OPINION FROM THE INTERNATIONAL COMPANY “ERNST & YOUNG” LLC

https://minenergy.uz/en/news/view/2039

 

02.07.2022 — The financial report of “National Electric Grids of Uzbekistan” JSC, prepared for 2021, received a positive audit opinion from the international company “Ernst & Young” LLC

https://www.uzbekistonmet.uz/en/lists/view/2510

 

24.01.2022 — Ernst & Young has provided a positive audit opinion on the financial statements of National Electricity Grids of Uzbekistan JSC for 2019–2020

https://www.uzbekistonmet.uz/en/lists/view/1858

 

31.12.2021 — Ernst & Young has provided a positive audit opinion on the financial statements of National Electricity Grids of Uzbekistan JSC for 2019–2020

https://kun.uz/en/48644768

 

30.12.2021 — Ernst & Young has provided a positive audit opinion on the financial statements of National Electricity Grids of Uzbekistan JSC for 2019–2020

https://www.uzbekistonmet.uz/en/lists/view/1753

 

Information service of JSC «NEG of Uzbekistan»

http://t.me/uzmetaxborotxizmati