Azerbaijan, Baku / Тrend corr I. Alizadeh / The draft law "Obligatory Insurance of Auditor's Civil-Legal Liabilities" was passes during the sitting of the Azerbaijani parliament on 1 May after the second reading.
Ziyad Samadzadeh, a member of the Parliamentary Permanent Commission on Economic Policy, reported that after the first reading the draft law was discussed by the Commission together with the representatives of the Ministry of Finance, National Bank of Azerbaijan, and Auditing Chamber. The proposals were considered by the task groups established in the Commission and the Department of Economic Legislation. Some amendments and additions were made in the daft law.
The law will regulate the relations in obligatory insurance of civil-legal liabilities of natural and juridical persons engaged in auditing services in Azerbaijan and will define the juridical, economic, and organizational basis for the obligatory insurance.