Azerbaijan, Baku, July 16 / Trend , I.Khalilova/
Extractive Industries Transparency Initiative (EITI) reports for the first six months of the year 2009 will be collated by Moore Stephens following the decision of the Selection Group, which was established in accordance with the Memorandum of Understanding signed to implement EITI in Azerbaijan between the governmental Committee on EITI, foreign and local extractive industry (oil and gas) companies and the NGOs' Coalition for Increasing Transparency in Extractive Industries, the State Oil Fund of Azerbaijan (SOFAZ) reported.
Four internationally recognized audit companies- Deloitte, PriceWaterHouseCoopers, Ernst & Young and Moore Stephens - operating in the Republic of Azerbaijan were invited to bid.
After the auditor's appeal to the companies operating in the oil and gas industry, they should submit reports of transfers, which in turn will check reports of the companies and the Azerbaijani government on income.
A new tender is conducted on each reporting period and the audit company is approved at a joint meeting of the Government Commission on the initiative of EITI, local and foreign oil and gas companies and the Coalition to increase transparency in extractive industries.
The first, second, fourth, fifth and tenth reports on the EITI were developed by the Delloitte & Touche company, sixth, seventh, eighth and ninth - Moore Stephens, and the third - by AGN MAK Azerbaijan LTD (it to a group of Accountants Global Network). Under the principle of priority, services of the audit company will be paid by companies involved in extractive industries. The memorandum of understanding involved 26 oil and gas companies.
In 2003-2008, the government revenues confirmed at the level of $851.386 million, and 8.198567 billion manat
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