Azerbaijani auditors pass to international auditing standards

Business Materials 6 January 2010 11:55 (UTC +04:00)

Azerbaijan, Baku, Jan. 06 / Trend , U.Ismayilova /

Azerbaijan began to introduce international auditing standards from Jan.1, Advisor to Azerbaijani Chamber of Auditors Head Najaf Talibov said on Jan.5.

"The Chamber of Auditors held presentation of a book of international auditing standards in Azerbaijani language on Dec. 25," Talibov said. "The books were distributed among auditors to enable them to study and to introduce international standards.

"Sanctions will be applied on auditors who will not comply with these standards while conducting inspections in 2010," Talibov said, withholding their size. 

Talibov noted that international auditing standards are introduced in four stages. The first stage envisaged improvement of legal base, the second - normative base, the third training of specialists and the forth - control over quality in accordance with international standards.

Talibov said the Chamber has already passed all four stages and is fully ready to fulfill these requirements.

The Azerbaijani Chamber of Auditors was established in September 1995 and began its activity in April 1996. Azerbaijan adopted the law on "Auditing activity" in 1994.