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Report by Accountancy Chamber, Finances Ministry on audit of energy company due

Business Materials 14 November 2005 18:36 (UTC +04:00)

Around a month is required for the Accountancy Chamber and the Finance Ministry to develop a report on results of joint audit of Azerenergy JSC. The Accountancy Chamber told Trend actual inspection is complete and at present the work on designing of a relevant act is underway.

"A report on Azerenergy will be considered in a meeting of the Board scheduled for mid December 2005,” the same source said.

Auditors carried out audit of the expediency of use by Azerenergy of the funds allocated for the implementation of the project on Construction of Yenikand Hydro-Electric Power Station. The audit was sanctioned on 19 April and initially the were to be held within a month, while term of audit at JSC was postponed four times.

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