Audit Companies May Submit Their Proposals to Participate in Competition on 5th Report Preparation within EITI till September 21
Internationally recognized audit companies operating in Azerbaijan may submit their proposals on preparation of the report on the first half of 2006 within the Extracting Industry Transparency Initiative (EITI) till September 21, 2006. In accordance with the memorandum on EITI introduction in Azerbaijan, the government commission on EITI, as well as local and foreign companies engaging in the extracting industry, and NGOs Coalition, a pre-election group to choose an audit company to compare reports on incomes of foreign and local companies, Trend reports referring to a message spread by the Competition Committee.
All interested parties to participate at the competition are invited to contact at (+994 12) 498-77-53 (extra 143) or email: [email protected]
As soon as the auditor is chosen, the time to complete the report will be determined. It will be prepared on the basis of comparing reports about incomes of companies engaging in the oil and gas industry, as well as the Government of Azerbaijan.
A new tender is held, and a new audit company is approved on each reporting period during a joint meeting of the EITI Initiative Governmental Commission, local and foreign oil and gas companies, and the Coalition Aimed at EITI.
In 2003 and 2004, audits were carried out by Deloytte. The report on the first half year was prepared by AGN Mak Azerbaijan LTD, a part of Accountants Global Network Group of Companies. Deloytte & Touche also prepared a report on 2005 results. In accordance with the principle of queue, audit companies services were paid by the State Oil Fund of Azerbaijan and companies-parties to EITI.