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Application for int'l accounting standards to facilitate Azerbaijan's accession to WTO

Business Materials 26 August 2010 10:28 (UTC +04:00)
Azerbaijan's application for international accounting standards will positively impact its accession to the World Trade Organization (WTO), head of the Azerbaijani Chamber of Auditors Vahid Novruzov told Trend yesterday.

Azerbaijan, Baku, August 26 / Trend, N. Ismayilova /

Azerbaijan's application for international accounting standards will positively impact its accession to the World Trade Organization (WTO), head of the Azerbaijani Chamber of Auditors Vahid Novruzov told Trend yesterday.

"The application process guarantees high transparency and less risk for the auditor," Novruzov said. "The WTO will conduct comprehensive monitoring of various economic sectors, so Azerbaijan's transition to international standards will play a positive role in its accession to the WTO."

He added that the accounting standards in Azerbaijan are constantly being improved and updated. In addition, the Chamber of Auditors conducts annual courses to improve the skills of auditors.

The GRBS Learning Center holds preparatory and national certification programs with the Chamber of Auditors in Azerbaijani and Russian for employees of accounting, financial and tax institutions.

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