Azerbaijani biggest bank chooses auditor

Photo: Azerbaijani biggest bank chooses auditor  / Economy news

Baku, Azerbaijan, Jan. 16
By Abbas Akhundov - Trend:

The International Bank of Azerbaijan (IBA) has announced an open tender for choosing an external auditor to audit the consolidated financial statements of the bank and its subsidiaries, the tender commission said on Thursday.

The report of the IBA and its subsidiaries comprising the International Bank of Azerbaijan - Moscow, International Bank of Azerbaijan - Georgia, International Insurance Company and, Azericard Company for the first six months and entire 2014 must be audited in accordance with the international financial reporting standards and international standards on auditing, according to the report.

Participation in the tender is worth 500 manat, according to the tender terms. The results of the audit reports for the first half of 2014 must be submitted no later than September 15, 2013 and for entire 2014 no later than April 1, 2015.

Tender bids will be accepted until 18:00 on March 3, 2014.

The official exchange rate is 0.7845 AZN/USD on Jan. 16.

Translated by NH
Edited by SM

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