Azeri companies must pass financial accounting up to int'l standards to enter world market
Azerbaijani companies must pass financial accounting up to international standards to enter the world market, Afig Israfilov, the chairman of the Board of Azaudit organization, said to a news conference on Thursday, Trend reports.
According to Israfilov, all CIS countries carried out work on transition to financial accounting up to international standards. Many companies of Russia and Kazakhstan are quoted at the exchanges of the United States and Europe, while none of Azerbaijani companies has been represented at these exchanges in relation to non-conducting of financial accounting up to international standards, he said.
Israfilov stressed that this sector slowly developed in Azerbaijan. The Azerbaijani Cabinet of Ministers issued a decree on transition of 20 organizations to financial accounting up to international standards till 1 January 2008. Azaudit in cooperation with Russian partner Riostexpertiza, the Russian representative of Moores Rouland International from 6 January to 6 Fevruary, holds a workshop on international standards of financial accounting. Attending the event are financiers, accountants, economists, managers.
The workshop consists of theoretical basis of development of financial accounting, preparation of consolidated financial accounting, transition of financial accounting to world standards. The people participated in the workshop will receive international certificates a chance to receive diploma of ACCA.