Moore Stephens to prepare fifteenth report on EITI for Azerbaijan
Azerbaijan, Baku, Feb.20 /Trend E.Ismayilov/
Moore Stephens international auditing company will prepare fifteenth report on the results of 2011 in the framework of Azerbaijan's participation in the Extractive Industries Transparency Initiative (EITI), State Oil Fund of Azerbaijan (SOFAR) said on Monday.
The decision was made at a meeting of the multilateral group of EITI, which was held on Monday at the State Oil Fund.
The companies in the extractive industries must submit reports on the transfers after an appeal of the auditor, and the auditor, in turn, will reconcile the reports of companies and the government of Azerbaijan on income.
Azerbaijan joined the EITI process in 2003.
The first, second, fourth, fifth and tenth reports on EITI were prepared by the company Delloitte & Touche, sixth, seventh, eighth, ninth, eleventh, twelfth, thirteenth and fourteenth by Moore Stephens, and the third by AGN MAK Azerbaijan LTD (it is included to a group of Accountants Global Network companies).
The memorandum of understanding includes 31 oil and gas companies and gold mining company in Azerbaijan.
The memorandum was signed on November 24, 2004 by 21 foreign and local mining companies, including such major companies as SOCAR, BP Azerbaijan, Exxon, Statoil, Total, Lukoi, Unocal, Shell, Devon Enerji. The last companies joined to the memorandum of the company are Inpex Azerbaijan, Binaqadi Oil, RAFI Oil, NICO, Apsheron Investment Ltd and GDF SUEZ Eksploration Caspian BV, Azerbaijan International Mining Company, which is engaged in gold mining in Azerbaijan, Neftechala Operating Company Ltd, and Shirvan Operating Company Limited.