BAKU, Azerbaijan, January 18. The Central Bank of Azerbaijan (CBA) has completed a tender for the purchase of services for the preparation of a methodology for assessing financial assets and financial liabilities based on the requirements of IFRS-9, Trend reports citing the public procurement portal (https://etender.gov.az/).
According to the portal, 109,740 manat ($64,550) will be allocated for the preparation of the assessment methodology.
The CBA has signed the relevant contract with Baker Tilly Audit Azerbaijan CJSC, the portal said.
Under the terms of the tender, the methodology must be prepared within 90 days.
IFRS 9 is an International Financial Reporting Standard (IFRS) specifying how an entity should classify and measure financial assets, financial liabilities, and some contracts to buy or sell non-financial items.
Baker Tilly Azerbaijan is a member of Baker Tilly International, a network comprising 37,000 people in nearly 740 offices across 148 countries with a combined fee income of over $4 billion. It's a national firm operating since April 2007 with more than 100 employees. Its annual revenues and number of contracts position it as the leading fourth biggest audit and business services firm in the country.