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KPMG to conduct audit of Azerbaijani postal operator’s activity during 2011-2012

Azerbaijan Materials 2 September 2013 13:56 (UTC +04:00)
Azerbaijani postal operator Azerpoct Ltd has announced the company which will conduct the audit of its financial activity during 2011-2012.

Azerbaijan, Baku, September 2 /Trend, H.Valiyev/

Azerbaijani postal operator Azerpoct Ltd has announced the company which will conduct the audit of its financial activity during 2011-2012, according to a message from Ltd's Tender Commission published on Monday in the official press.

The winner of the tender was international firm KPMG Azerbaijan Limited which was invited to sign the contract. The company should submit an action plan. The audit should be conducted within 120 days.

The tender for conducting the audit of the postal operator's activity is being conducted under the 'Modernisation of the financial sector" project financed by World Bank's loans. The part of these resources is set aside for consultation services.

The financing of the component related to the development of postal services is carried out by State Secretariat for Economic Affairs (SECO) of Switzerland.

The invitations and conditions for participation in the tender were submitted to Ernst & Young, Deloitte & Touche, Moore Stephens Azerbaijan Limited, KPMG Azerbaijan Limited and PricewaterhouseCoopers. However, only proposals from Moore Stephens Azerbaijan Limited and KPMG Azerbaijan Limited were submitted.

As a result of assessing technical proposals, KPMG Azerbaijan Limited got 80.13 points and Moore Stephens Azerbaijan Limited 75.80 points.

According to financial proposals, KPMG Azerbaijan Limited estimated the cost of work at 68284.90 manat and Moore Stephens Azerbaijan Limited at 94499 manat.

Official exchange rate on September 2 is 0.7844 AZN/USD.

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