• Register
Return to: Home > Comments > Youth in accountancy series: Zarylbek Abduvaliev

Youth in accountancy series: Zarylbek Abduvaliev

To celebrate international youth day, The Accountant and International Accounting Bulletin asks professionals aged under 35 to share their thoughts on the profession: why they qualify as accountants, whether it was challenging and, now that they are in, how they see the profession and where it is going.


Zarylbek Abduvaliev
Managing partner
Kreston Ansar, Kyrgyzstan


My auditing career started in 2004 when I joined Mazars in Moscow following my graduation from Moscow State University of International Relations (MGIMO). I then started to work with Deloitte and KPMG in Bishkek. Going through all stages of the career ladder from audit assistant to audit manager in Deloitte in 2010, I finally founded Ansar Accountants audit firm in 2012.

At University, I chose international economic relationships and I was routed to the accounting department during my third grade. At first I was more interested in banking, however soon I realised that auditing profession has the privilege of being connected with different industries including the banking.

In order to practice auditing in Kyrgyzstan, you need to have a license from the State Service for Monitoring of Financial Markets. However in order to provide auditing services for international companies or companies interacting with foreign investments, you also need to have international certification such as ACCA. I received my ACCA qualification and Kyrgyz national auditing qualification in 2009. In order to obtain these you need to work and study at the same time. Normally, I would take 1-2 weeks study leave in order to prepare for exams. While the two weeks leave could be adequate for the exams preparations, I would still had to study after the normal working hours.

The profession is valued by the society because many industries are getting automated and people are replaced by machines. I think auditing profession will not be replaced by machines any soon. Although electronic devices are increasingly used by auditors, still very much judgement is required and there are many things that cannot be prescribed in detail through electronic means. At the same time, this poses some ethical threat as auditors have much room for manoeuvring in some business issues.

Auditors follow international or national standards and corporate instructions, however still these cannot provide for all possible situations that may arise during the audit. For example, IFRS standards rely heavily on entity’s management estimates for some positions. If auditors highly challenge those estimates or are too pedantic, they lead to risk losing their clients. So we need to keep clear focus on our end clients, who are shareholders, investors and general public and not the entity’s management. At the same time, shareholders highly trust their management; otherwise they would not put them in this position.

We at Ansar Accountants value our ethics most. Bearing this in mind, I wanted to found a firm that would put a special tool on monitoring auditors’ ethics. I found that religious people have such internally built independence and stamina.

During my work at Deloitte I was not heavily involved in such processes as procurement, HR administration, hiring, public relationships etc. So when I started my own business this was a whole new world for me. Each of these business processes can be very difficult to manage, so it was rather tough during the first years. Later all these became more stable as I studied the new disciplines

I think it is not the duty of professional institutions to cater for prospective young accountants. Individual audit firms are members of professional institutions, so normally it is the responsibility of the firms and the young accountants themselves to get what is needed for a young accountant. Professional institutions can just support firms with methodology and information.

The auditing profession now heads towards greater transparency and control. Thus a more detailed disclosure of audit procedures would be required now in the audit report. I think it is a good step for raising quality in auditing. Currently we also see increasing competition on the audit market so the profession continues to get more efficient and effective.

I think during the coming years our generation could provide its own response to the current issues of maintaining ethics and becoming more efficient and transparent. I do not know for sure what the response would be, however I think the professional standards would definitely change.

Top Content

    Time pressure: Facing up to mental health

    In an ‘always on’ culture, it is becoming increasingly difficult to manage a healthy work-life balance. While companies are beginning to address this problem by introducing different support systems, Joe Pickard finds more could be done to ensure the wellbeing of the professions workforce.

    read more

    Venezuela: the race for the dollar

    With a new currency following hyperinflation, large sections of the population emigrating to neighbouring countries, an economy on the brink of collapse and no apparent solution coming from the government, Jonathan Minter finds a profession struggling to stay afloat in Venezuela.

    read more

    Brazil: transparency and control

    Brazilian accountants have an optimistic view of the impact of more-regular reporting and the implications of audit controversies for the profession. Paul Golden reports.

    read more

    Argentina: looking for a clearer view

    The Argentine accounting profession continues to grapple with the impacts of a weak economy and a culture of financial corruption. Paul Golden takes a closer look.

    read more

    Blockchain: adapting to disruptive tech

    In the relatively few years since digital currencies first began using blockchain technology, the array of potential applications has grown significantly – and continues to expand. Dan Balla, Matthew Schell and Dave Uhryniak from Crowe look at how it impacts accountancy.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.