Azerbaijan's Chamber of Accounts notes shortcomings in financial reports of companies
Baku, Azerbaijan, Sept. 13
By Matanat Nasibova - Trend:
Today, there are serious flaws in the financial reports of government departments, the head of Azerbaijan's Chamber of Accounts Vugar Gulmammadov told reporters, Trend reports.
In this regard, the Chamber of Accounts intends to analyze the financial statements of state-owned companies and structures.
According to him, not only state-owned companies, but also some budgetary organizations do not submit consolidated financial statements.
"This prevents us from drawing conclusions on them. There are currently no legal requirements for this. Therefore, we intend to closely address this issue in order to eliminate this problem," Gulmammadov said.
Another problem is the unsatisfactory performance of internal audit services in these organizations.
"Each government agency should conduct its own audit prior to conducting an external audit. Unfortunately, presently, the activity of internal audit bodies in state structures is poorly organized, and we assess it as unsatisfactory," he said.
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