Azerbaijan, Baku, Feb. 13 / Trend , E.Ismayilov/
Assessment has
revealed that Azerbaijan is fully consistent with all principles of Extractive
Industries Transparency Initiative (EITI). So, the country has opportunity to
become the first full EITI member, State Oil Fund of Azerbaijan Republic
Executive Director Shahmar Movsumov said on Feb. 13
Azerbaijan's membership may be approved next week in Doha, Qatar, at the EITI
Fourth International Conference.
"We are very hopeful that next week Azerbaijan will become a full member of
EITI," said Movsumov.
According to report on the December 2008 assessments, Azerbaijan is fully consistent with all EITI standards, he said.
Azerbaijan will become a full EITI member among 23 candidates. "The status of
full member once again confirms that Azerbaijan's oil and gas revenues are
completely transparent and are transparently managed and reported," said
Movsumov.
Deloitte will develop the 10th EITI report on 2008 outcomes in near
future.
Deloitte held audits for 2003,
2004, 2005 and the first half of 2006; AGN Mak Azerbaijan LTD (part of Accountants Global Network) developed a report on the first half of
2005. Moore Stephens
designed reports for 2006 and 2007 and the first half of 2008.
In line with queue principles, companies involved in extractive industries will pay for the audit.
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