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Azerbaijan announces competition for auditing reports on 2010 results within EITI

Oil&Gas Materials 28 January 2011 13:42
The Commission on the initiative of the Extractive Industries Transparency Initiative (EITI) in Azerbaijan announced a competition to attract an internationally recognized auditing company to audit reports on the results of 2010, submitted by local and foreign companies, the State Oil Fund of Azerbaijan (SOFAZ)
Azerbaijan announces competition for auditing reports on 2010 results within EITI

Azerbaijan, Baku, Jan.28 / Trend /

The Commission on the initiative of the Extractive Industries Transparency Initiative (EITI) in Azerbaijan announced a competition to attract an internationally recognized auditing company to audit reports on the results of 2010, submitted by local and foreign companies, the State Oil Fund of Azerbaijan (SOFAZ) said. This will be the 14th report of the country on EITI.

Proposals of international auditing companies having licenses for audit activities in Azerbaijan should be submitted to attend the competition by 11:00 on Feb.15.

Phone: 498-77-53 (internal: 129),

E-mail: [email protected]

A new mechanism for the announcement of the report on Azerbaijan in the framework of the Extractive Industries Transparency Initiative (EITI) began operating from 2010. Earlier It was decided at the meeting to switch from twice-a-year reporting (where semi-annual and annual reports were prepared) to once-a-year annual EITI reporting, while now the report will be announced only on the results of the year.

The Committee on EITI endorsed the 13th EITI report for the first half of 2010 in October. Earlier EITI reports were prepared by companies Delloitte & Touche and Moore Stephens

The official exchange rate is 0. 7969 manat to $1 on Jan.28.

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