AGN MAK to finish report on EITI

Oil&Gas Materials 29 December 2005 12:50 (UTC +04:00)

The AGN MAK auditing company will finalize the report on the first half of 2005 within the framework of the “Extracting Industry Transparency Initiatives” (EITI) project till late 2005. The company delays the work on checking reports of the companies in the oil and gas industry and the government of Azerbaijan on receipts, the head of the Coalition of non-governmental organizations (NGOs), the chairman of the Centre for Economic and Political Studies Sabit Bagirov told Trend. According to him, by the data received from the government, all reports have been submitted to auditing companies, delays are related, respectively, to the estimates of the AGN MAK company.

AGN Mak Azerbaijan LTD is part of the Accountants Global Network group of companies. It has been selected at the regular sitting of the Governmental commission on EITI, local and foreign oil companies and the Coalition on Extracting Industry Transparency Increase which took place on 29 September 2005. Under the priority principle the auditing company’s services will be paid by the State Oil Company of Azerbaijan (SOCAR).

Previously audits for 2003 and 2004 were carried out by Deloitte.