Business Materials 16 July 2005 12:21 (UTC +04:00)

The Accountancy Chamber of Azerbaijan will hold an audit in the Ganja Technological University in connection with the projection and use of funds allocated out of the public budget under the �Education expenses’ item for 2003-2004, the Accountancy Chamber said that the examination will be held since the next week and will be publicized within a fortnight.

The key objective of the audit is the examination of the use of funds allocated out of the public budget in connection with the terms defined by the public budget, as well as amount of funds, structure, direction and their execution in accordance with the expenditure articles.

The Accountancy Chamber will also carry out an audit in the Khatai district Education Department.

At present the Accountancy Chamber is involved in the audit of Health Ministry the projection and use of funds allocated out of the public budget under the "Expenses for industry and construction” for 2004. The audit aims at researching the state of budget orders on the construction (investment) expenses, amount of funds, structure, direction and use in compliance with the expenditure articles. The audit is currently held at the branches of the Azerbaijan Teachers Institutes in Ganja, Sumgayit, MIingachevir, Shaki, Agjabadi, Jalilabad, Gazakh, Guba, Salyan, Shamakhi and Zakatala.

Besides, the Accountancy Chamber jointly with the Finances Ministry carries out audit work on use of credits taken under the state guarantee.

Meanwhile, the Accountancy Camber and the Finance Ministry set up joint control measures with the project on Rehabilitation of gas system implemented by Azerigas JSC at the expense of credit taken under state guarantee and a project on the construction of Yenikand Hydro-electric power station implemented by Azerenerji JSC.

The control measures target control over use of credits received under the state guarantee on the appointment.

Besides, this year the Accountancy Chamber and the Finances Ministry will carry out audit and monitoring over the project of technical assistance on establishment of private economies, development and crediting of the agriculture, implemented by the Agency for Assistance to Private Sector in Agriculture under the project of Rural Areas Development and first tranche, the rehabilitation of liberated areas implemented by the Agency on Rehabilitation and Reconstruction of Areas, project on the reconstruction of water supply of Big Baku, first and second tranches implemented by Azersu JSC, project on Khanarkh channel, first and second projects realized by the Agency for Amelioration and Water Economy, as well as project on the rehabilitation of areas liberated from the occupation, implemented by the Fund for Social Development of internally displaced period.