The Azerbaijani Finances Ministry is preparing 9 National Standards which will conform to international standards. Elkhan Jafarov, the division head at the Finances Ministry, informed Trend that the Country will confirm a total of 29 National Standards which are under transition to international standards up to 2009.
Up to now 3 Standards have been adopted.
Mr. Jafarov also reported that the Finances Ministry is about to introduce the Standards into Azerbaijan which will result in Standards 31 of 36 being translated into Azerbaijani.
The transition and application of the National Standards began after the adoption of the new law on Book Keeping in 2004 in which Jafarov recognized the existence of problems within this field, mainly in the certification of accountants.
The Ministry hopes to receive assistance on the transition to international standards from international financial institutions and donors.