Parpiyev Jaxongir Ilxomjonovich (1)
General Background: Auditing quality increasingly depends on the robustness of professional judgment, especially in the identification of key audit matters that influence users’ trust in financial information. Specific Background: In Uzbekistan, audit reports frequently present key audit matters in generalized terms, limiting transparency and reducing alignment with ISA 701 standards. Knowledge Gap: Limited empirical evidence exists on how cognitive processes, analytical rigor, and evidence-based assessment shape auditors’ professional judgment in national practice. Aims: This study analyzes how auditors in Uzbekistan develop key audit matters, evaluates the cognitive and methodological criteria they apply, and proposes a structured framework to enhance judgment quality. Results: Empirical analysis of 20 major organizations shows significant variation in judgment quality, with superior performance linked to rigorous risk selection, comprehensive documentation, and strong skepticism, while deficiencies often arise from insufficient transparency and weak analytical depth. Novelty: The study introduces a multi-factor evaluation model combining cognitive appraisal, analytical criteria, and evidence-based assessment to quantify judgment accuracy. Implications: Adoption of systematic decision indicators can reduce subjectivity, enhance consistency across audit practices, increase the credibility of audit reports, and accelerate convergence with international standards in Uzbekistan’s auditing profession.Highlight :
Professional judgment determines the depth and credibility of key audit matters.
Evidence quality and structured analysis reduce subjectivity in audit conclusions.
Cognitive and skeptical approaches strengthen alignment with ISA 701 standards.
Keywords : Auditing, Professional Judgment, Important Audit Issues, Cognitive Approach, Evidence
International Auditing and Assurance Standards Board, ISA 701: Communicating Key Audit Matters in the Independent Auditor’s Report. New York, USA: IFAC, 2016. Online: [https://www.ifac.org](https://www.ifac.org)
Republic of Uzbekistan, Law on Auditing Activities, ORQ 61, May 26, 2000. Tashkent: Ministry of Justice of the Republic of Uzbekistan, 2000.
Ministry of Finance of the Republic of Uzbekistan, Order No. 161 on Measures to Bring Auditing Activities into Line with International Standards. Tashkent, Uzbekistan: Ministry of Finance, 2022.
A. I. Alimov, Psychological Aspects of Cognitive Approach and Reasoning Formation in Auditing Activities. Scientific Newsletter of Namangan State University, Namangan, 2023.
E. E. Griffith, J. S. Hammersley, and K. Kadous, Auditors’ Cognitive Processes and Professional Judgment in Complex Audit Tasks. The Accounting Review, vol. 90, no. 3, pp. 123–147, 2015. doi:10.2308/accr-50982
S. E. Kholbekov, The Practical Significance of the Principles of Professional Judgment and Evidence in Auditing. Scientific Journal of TSIU, Tashkent, 2021.
W. F. Messier, S. M. Glover, and D. F. Prawitt, Auditing and Assurance Services: A Systematic Approach, 11th ed. New York, USA: McGraw-Hill Education, 2020.
M. W. Nelson, A Model and Literature Review of Professional Judgment in Auditing. Auditing: A Journal of Practice and Theory, vol. 28, no. 2, pp. 1–31, 2009. doi:10.2308/aud.2009.28.2.1
M. M. Shukurovich and A. F. F. Ugli, Transformation of Accounting of Main Means in Water Enterprises Based on International Standards. Academicia: An International Multidisciplinary Research Journal, vol. 12, no. 7, pp. 50–57, 2022.
X. U. B. Abdulazizovich, Priority Directions of the Formation of the Knowledge Economy. Journal of New Century Innovations, vol. 74, no. 2, pp. 65–70, 2025.
U. B. Kholmirzayev, Characteristics of the System of Concepts of the Knowledge Economy and Science Sphere. Yashil Iqtisodiyot va Taraqqiyot, vol. 1, pp. 11–12, 2023.
U. B. Kholmirzayev, Knowledge Economy as the Basis of Society’s Modern Development Stage. Yashil Iqtisodiyot va Taraqqiyot, vol. 2, pp. 6–12, 2024.
B. J. Xakimov, B. B. Alimov, U. A. Kholmirzayev, and A. X. Polatov, Iqtisodiy Tahlil Nazariyasi. Tashkent, Uzbekistan: Iqtisod-Moliya Publishing, 2013.
X. U. B. Abdulazizovich, Analysis of the Need to Strengthen Financial Support for Innovation Activities. Scientific Journal of Actuarial Finance and Accounting, vol. 5, no. 3, pp. 142–146, 2025.