Audit in Azerbaijani Agrolizing OJSC Led to Dismissal of Almost 20 People: Head of Accounting Chamber
Azerbaijan, Baku, 15 April / corr. Trend I. Alizade, S. Babayeva/ The audit conducted by Accounting Chamber of Azerbaijan (ACA) in Agrolizing OJSC resulted in dismissal of 19 people from various posts, said Heydar Asadov, the chairman of Accounting Chamber. "We have revealed serious shortcomings in the organization," he said.
The Accounting Chamber held accounting, and audited payment and account documents in Agrolizing.
According to him, the audit revealed that the large number of the purchased equipments has not been put into operation and number of fertilizes was sold on reduced price.
"The audit revealed weak accounting within the organization, late return of the equipment and pending debts," said Asadov.
Agrolizing OJSC was founded on 23 Oct 2004, in line with the decree of Azerbaijani president Ilham Aliyev. The company aims at improving agriculture and support for the entrepreneurship by supplying agricultural equipment to the land owners by means of leasing.
From 2005, Agrolizing has sold more than 5,000 units of equipment, 110,600 tons of nitrogen manure, 26,100 tons of superphosphate fertilizer and 267.7 tons of pesticides to the farmers. Some AZN103.5mln has been allocated to the company during this period.