The Azerbaijani Finance Ministry concluded a contract with Scotch Pasley University to implement component on strengthening of institutional potential through improvement of the legislation in business accounting and audit within the project of the World Bank Institutional Building Technical Assistance (IBTA-2).
The consultant of the $180,000 project is due to complete the work till April, the implementation group told Trend.
The Scotch organization has worked with the Azerbaijani Ministry within the TACIS project on improvement of standards of business accounting. Therefore, the Ministry proposed to WB to continue the work with the consultant in order not to stop process, but change source of financing.
In accordance with technical task, Pasley University will help in carrying out legislative reforms in business accounting and audit through strengthening of potential and organization of consultative board on business accounting. Strategy and auction plan will be drawn for the country to carry out the reforms. The consultants task also includes rendering of assistance in execution of Law on business accounting, organization of workshops and conferences for accountants, preparation of national business accounting standards for commercial organizations.
The project envisages development of methodology for transmission of local standards to international one, working up tax recalculation system at transfer to the public budget.