Azerbaijan Water Operator accelerates transition to international standards of financial statement
Azerbaijan, Baku, April 30 /Trend A.Akhundov/
Azerbaijan Water Operator- the state-owned JSC "Azersu" - continues to work on the transition to international standards of financial statement, the company said on Monday.
In this regard, the company has accelerated the progress of work on the revaluation of tangible and intangible assets and of information technology use in the field.
"To this end, the company signed a contract with an international audit company Ernst & Young, which has prepared and submitted plan for the transition to IFRS. A number of works is implemented and a special commission is created in the frame of the plan," the report said.
Department on finance and accounting is created in accordance with the proposals of Ernst & Young. The decision on the application of programs 1C was taken.