Azerbaijan, Baku, Feb. 17 /Trend, N.Ismayilova/
The Swiss State Secretariat for Economic Affairs (SECO) has chosen a consultant to review the strategic plan on the Corporate and Public Sector Accountability Project (CAPSAP), the head of the national program of the Swiss Cooperation Office for the South Caucasus Naila Safarova said.
"The World Bank and the Azerbaijani government will sign a grant agreement for the project ", Safarova said.
Earlier, a tender was announced within the project. An external consultant who will review the strategic plan has been already chosen. But SECO can not allocate the money due to the fact that the agreement with the World Bank has not been signed yet. The consultant was attracted from Germany.
SECO provides a grant worth $2 million to finance a sub-component of the project, implemented jointly with the Accounting Chamber of the country.
The total project cost is $24 million. The loan agreement for the project was signed in September 2008. It will not be implemented untill late December 2012.
Funders for the project include the WB ($11 million), the Japanese government ($3 million), the Swiss State Secretariat for Economic Affairs ($2 million), and the Azerbaijani government ($8 million).
Azerbaijan already prepared 28 national standards for the commercial sector.
At present there are 35 standards of financial reporting and auditing in the world. The transitioning to the IFRS was launched in the country for the public sector from January 1, 2008.