Azerbaijan, Baku, Oct. 21 / Trend A.Akhundov /
Azerbaijan should not lag behind the process of improving the audit going in the world, Azerbaijani Auditors' Chamber President Vahid Novruzov said.
"If the process of improving the audit goes around the world, it must continue in Azerbaijan. We can not lag behind this process," Novruzov said.
The new document, which extends the powers of modern auditing in Europe, will be discussed in November, he said.
"The European Commission wants to develop audit on a new conceptual framework in Europe. In this regard, the European Federation of Accountants and Auditors (EFAA) prepared a "green paper" and sent it to us as the EFAA member. The document reflects ideas conceptually different from the present audit," he said. "Brussels will host the discussion on the document in November. If this document is adopted, there will be a new concept of auditing, which differs from the present audit."
According to this document, for example, the audit will be required not only to view, but also identify areas for future development of the enterprise. "This is different from each other things. This document expands the powers and responsibilities of the audit. Currently, auditors are not permitted to company management, the modern understanding of audit - this is only an estimate of the current situation," said Novruzov.
Do you have any feedback? Contact our journalist at: [email protected]