A joint meeting of a governmental commission on Extractive Industry Transparency Initiative (EITI), local and foreign oil companies and the Coalition on increase of transparency in extractive industry held on 16 May adopted a candidacy of an international auditor company Deloytte & Touche, which will develop a report on second half-year of 2005 under the EITI, the State Oil Fund of Azerbaijan (SOFAR) told Trend.
The invitations were sent to 4 leading international audit companies active in Azerbaijan Deloytte & Touche, Ernst & Young, PriceWaterhouseCoopers and Moore Stephens Azerbaijan.
Following an appeal to a company involved in the oil and gas industry, they should submit in a month reports on transferences, while to Deloytte & Touche, an auditor in its turn is committed to conduct over 10 days the revision of reports submitted by the companies and government on the revenues.
In compliance with the principle of order the audit services will be paid by the company.
In 2003 and 2004 the audit was carried out by Deloytte, while a report on the first half-year was designed by AGN Mak Azerbaijan LTD, a member of Accountants Global Network group of companies.