Audit and economical analysis

Measures to prevent economic insolvency (bankruptcy)

Bankruptcy institute in foreign countries is a major problem. They have been studying this subject for several centuries. It should be noted that for the first time, the bankruptcy-related relationships were regulated by the law in the middle of the XVI century. However, these norms were more criminal. So, in most cases, the criminal liability for the bankruptcy of the enterprise is established. As deeply studied the causes of bankruptcy, relations with it are not always criminal, often because of close civil and material-legal relations, the majority of the norms regulating bankruptcy relations began to form civil-law norms. According to the legislation of most foreign countries, the enterprise can be recognized as bankrupt after the commencement of the debtor debt repayment period. That is, their law does not require that the value of the property of the enterprise exceeds its debt obligations or that the creditors' demands are not met for a certain period of time. At the same time, the minimum amount of the debtor's debt is recognized for them to be recognized as bankrupt. For example, $ 5,000 in the United States, 750 pounds in the UK, 500 in Russia minimum wage, 100 for individuals, and so on. k. An analysis of foreign bankruptcy practices shows that bankruptcy laws generally have two dimensions or models. First; The UK model is designed to ensure that the bankruptcy legislation is returned to the owner of the debt to the bankrupt institution. This type of issue is mainly carried out on a liquidation basis. The second model is the American model, in which the law is aimed at reducing the solvency of the bankrupt enterprise through various measures and continuing its economic activities. At present, the Republic of Uzbekistan is developing and improving bankruptcy legislation on these two models. Bankruptcy legislation is developing globally in two directions. The essence of the first direction is that in England, Germany and other countries, the essence of bankruptcy legislation is that it will be aimed at repaying its debts to its creditors, which is largely due to the bankruptcy of an insolvent enterprise. In the second law of the law (in the US, France and other countries), the norm of bankruptcy law in developing countries is in the best interests of the poorest enterprise, with a focus on disadvantages.

The Law of the Republic of Uzbekistan "On Bankruptcy", adopted in 1994, reflects the above-mentioned legal norms aimed at combining these two directions. However, given the content of subsequent laws and sub-legal acts, we have already become more aware of the nature of the second aspect of the legislation in this area, which means that the approach to debt relief approaches varies. The development of our legislation in this direction is economically sound. The same can be seen in the measures taken in the agrarian sector for the removal of economic entities from the economic downturn. Therefore, the adoption of the Law "On Agricultural Enterprise Rehabilitation" and the Law "On Bankruptcy", in particular, included specific legal norms for agricultural enterprises. This is because the Law defines the measures of protection of the economic and legal interests of such enterprises, their financial support and increase of productivity, as well as the features of the recognition of the economically insolvent agricultural enterprises as bankrupt is given. Indicators, evaluating the economic vulnerability of enterprises, include the following CIS countries: