Baku, Azerbaijan, Jan. 25

By Anvar Mammadov – Trend:

The new bill "Chamber of Accounts" must be ready for future challenges, Azerbaijani MP Rufat Guliyev said.

He said that in general, the new bill fully complies with international standards.

"The current legislation is outdated,” he said. “The new version of the law was in demand from the point of view of meeting today's challenges. The bill is perfect but perfection has no limit. In the future, the activity of the world's audit bodies may change. Moreover, the risks are increasing. Therefore, the bill must be ready for challenges. It must be flexible to be changed and supplemented in connection with global challenges in the future."

Guliyev said that 40 changes were made in 16 articles of the current law, which can be divided into several categories.

"Some changes are related to the improvement of the articles of the current law and the elimination of shortcomings,” he said. “The law ‘Chamber of Accounts’ had shortcomings which were eliminated in the new bill. The second category of changes is related to the implementation of international standards. The activity of the Chamber of Accounts will fully comply with international standards. The third category of changes implies the updating of a number of normative acts regulating the activity of the Chamber of Accounts."

“Another positive factor is that the Chamber of Accounts will conduct unscheduled inspections and provide information on those inspections at the request of the Azerbaijani Parliament,” Guliyev added.

"This is a very important action,” he said. “The MPs wanted to work more closely with the Chamber of Accounts.”

During the first reading, the Azerbaijani parliament adopted the new version of bill on "Chamber of Accounts" at the plenary session on December 15, 2017. The new law consists of six sections and 41 articles.