“Big Four” audit companies in Azerbaijan get over 55% of all contracts in 2018

Business Materials 5 July 2019 13:13 (UTC +04:00)

Baku, Azerbaijan, July 5

By Kheyraddin Nasirzade - Trend:

The share of the “Big Four” audit companies in Azerbaijan for 2018 reached 55.19 percent in terms of value and 14.74 percent in terms of the total number of concluded contracts, a source in the Chamber of Auditors of Azerbaijan told Trend.

Last year, 100 audit companies concluded with economic entities 4,517 contracts worth a total of 74.58 million manats.

The source noted that as part of mandatory audit inspections provided for by the organizational and legal form of mandatory audit, 980 economic entities or 60.95 percent of all 1,608 municipalities were audited last year.

In 2018, the activities of 13 audit companies and independent auditors were temporarily suspended by the Chamber. Of these, nine audit companies and three independent auditors were discharged on their own application, while the activity of one audit company was suspended in line with the decision “On membership fee from the members of the Chamber of Auditors of Azerbaijan dated 2017.”

(1 USD = 1.7 manats on July 5)


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