Audit development concept in Azerbaijan to be submitted to government in November
Azerbaijan, Baku, October 1/Trend, A.Akhundov/
The Azerbaijani Chamber of Auditors will submit a project of a concept for development of audit services to the country's government in November, head of the Chamber Vahid Novruzov told Trend on Tuesday.
According to him, the document may be adopted by the end of this year.
"Currently, a working group, formed of staff and members of the Chamber is completing its work on creation of the concept," he said.
According to the head of the Chamber of Auditors, its main objectives are to support the measures envisaged by "Azerbaijan 2020: A Look into the Future" development concept, aimed at increasing transparency, civil society development and Azerbaijan's integration into the world economy, as well as clarifying the role and opportunities of the independent audit in the new financial and economic conditions, determining the audit development directions in Azerbaijan, expanding the market of audit services, improving control in this sphere, as well as preparing and elaborating the proposals to update the regulatory framework in the sphere of auditing in Azerbaijan," Novruzov added.
The concept revised the audit objectives, which have been brought into line with modern requirements.
"Among them are ensuring the accuracy of financial reporting and protecting the interests of their users, as well as the leading role of auditors in economic management and effective decision-making on the basis of transparent information, expanding the activity aimed at revealing the economic development prospects, eliminating the unhealthy competition and using ICT in the audit," Novruzov added.