The Chamber of Audit of Azerbaijan is about to complete work over the improvement of the legislation in the sphere of audit activities, the head of the Department for organization of audit and control of quality of the Chamber, also the head of the working group, Hasham Bayramov, told Trend.
According to Bayramov, as the work was implemented at the expense of the World Bank (WB), the bills developed thus far will be accorded with the specialists of the bank and after presented to the relevant bodies.
Touching upon the supplements and changes to the legislature on audit activities, in particular, the laws on Audit Services and on Internal Audit, Bayramov noted that the bill specifies the audit of economic subjects and level of fines imposed on the enterprises in case of evasion from tax payments, as well as commitments on insurance of audit sector.
The World Bank grant allocated for development of accountancy system and audit comprises $340,000.