EY Azerbaijan updates clients in Baku on IFRS changes (PHOTO)

EY Azerbaijan updates clients in Baku on IFRS changes (PHOTO)

Baku, Azerbaijan, Nov. 7

Trend:

EY Azerbaijan held its annual seminar for clients on the latest updates to International Financial Reporting Standards (IFRS) at the JW Marriott Absheron Hotel Baku on 2 November 2018.

The seminar was delivered by qualified IFRS specialists, Vadim Shelaginov, EY Moscow Assurance Senior Manager and Yokub Sharafitdinov, EY Baku Assurance Senior Manager for participants from major international and local companies operating in Azerbaijan. Ekaterina Rodina, EY Moscow Financial Advisory Senior Manager and Zaur Jafarov, EY Baku Advisory specialist made presentations about FAAS services in Azerbaijan.

The materials focused on recent IFRS updates and their practical implementation. The participants discussed how to resolve practical issues during the session.

Vadim Shelaginov said: “I was pleased to share our experience in applying the new revenue standard with our colleagues, as well as our analysis of the new lease accounting standard. I believe we held productive discussions and it was also interesting to learn how Azerbaijan companies are applying the new standards. Good luck to all colleagues who are preparing 2018 reports and applying these new standards.’’

Yokub Sharafitdinov shared his thoughts: “I hope this event was important for participants considering adopting new IFRS standards, such as IFRS 9, IFRS 15, and IFRS 16. We tried to address key practical matters and to address participants’ questions. I believe the topics covered during the event were valuable.”

One participant, Emil Yusifov, Project Accountant at Wood Group also commented on the event: “Thank you very much for inviting us to the IFRS updates training delivered by your colleagues. It was really informative. The presenters covered practically useful points and controversial aspects of the new updates, which I think met the expectations of most guests. I would appreciate having the chance to attend such meetings in future as well and I would ask the lecturers to add some practical examples in their speeches.’’

On behalf of EY Azerbaijan, we thank all the participants and speakers for their participation!

About EY

EY is a global leader in assurance, tax, transaction, and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY works together with companies across the CIS and assists them in realizing their business goals. 4,500 professionals work at 19 CIS offices (in Moscow, St. Petersburg, Novosibirsk, Ekaterinburg, Kazan, Rostov-on-Don, Togliatti, Vladivostok, Almaty, Astana, Bishkek, Baku, Kyiv, Tashkent, Tbilisi, Minsk and other locations).

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

EY in Azerbaijan

EY made a major commitment to the development of Azerbaijan and the region by opening the office in Baku 24 years ago. Today, in addition to being the leading audit and consulting firm in Azerbaijan, we are the leading professional services firm in the region. As a result of our experience and competence, we have been able to assist both domestic and international companies as well as state-owned entities to develop and manage the challenges of the international economy.

There are currently more than 200 people working in our Baku office that serve our clients in Azerbaijan. EY’s strength in the Caspian Region and the firm’s commitment of resources are important to the entities operating in the region. It means that as we grow, EY will continue to demonstrate a tradition of hiring and training local professionals to be leaders in our practice.

A patient with a coronavirus died in Bukhara region
A patient with a coronavirus died in Bukhara region
Samarkand Automobile Plant in Uzbekistan to produce ambulances
Samarkand Automobile Plant in Uzbekistan to produce ambulances
Uzbekistan increases number of refrigerated cargo wagons
Uzbekistan increases number of refrigerated cargo wagons
Loading Bars
Latest
7 dead due to heavy rains, flooding in southwestern Japan
Moscow's death toll from confirmed coronavirus cases rises by 24 to 3,953
Iran files lawsuit against U.S. over sanctions amid COVID-19 fight
Turkey's daily COVID-19 cases drop slightly for 5th day
WHO halts hydroxychloroquine, HIV drugs in COVID trials after failure to reduce death
WHO reports single-day increase in coronavirus cases by over 212,000
A patient with a coronavirus died in Bukhara region
Two new COVID-19 cases confirmed in Georgia
Azerbaijan to simplify its int'l road transport movement with new e-technology
Turkey's cement export to Iraq drops
Fire in power plant in SW Iran contained
TRACECA to implement pilot project on applying electronic permits
Azerbaijani university opens tender on repair work
Azerbaijan confirms 534 new COVID-19 cases
AZAL to perform another additional special flight to Istanbul
1 dead, 3 wounded in U.S. nightclub shooting
Brazil reports over 1.5 mln COVID-19 cases, with 63,174 deaths
Azerbaijan to increase share of renewables in electricity generation
Azerbaijan Investment Company purchasing shares
Foreign trade operations between Azerbaijan, Malaysia almost double
Volume of S.Korean goods import to Azerbaijan grows
Turkmenistan to start second stage of cement plant construction in Lebap region
New tourist zone to open in Baku (PHOTO)
BSTDB may release second tranche of manat bonds
Azerbaijani Kapital Bank expanding mortgage lending
State Commodity Exchange of Turkmenistan reveals data for 1H2020
Azerbaijan-Mexico five-month trade turnover increases
Turkey unveils volume of cargo transshipment from Ukraine via its ports
Activity of Iran's Aras Free Zone skyrockets, compared to last year
Talks over Energy Charter Treaty's modernization to start soon (PHOTO)
Turkmenistan to build new plants for mineral fertilizer production
Iran reveals its COVID-19 data for July 4
Georgia sees increase in prices of real estate for rent in suburbs
Suicide car bomber hits checkpoint at Somalia's Mogadishu port
Shell CEO does not rule out moving headquarters to Britain
Fitch Ratings: Growth in Azerbaijan's insurance sector depends on regulated tariffs
Weekly review of Azerbaijan's precious metals market (June 26-July 3)
Oil transportation via Ceyhan-Kirikkale pipeline through Turkey up
Lithuania considers transport co-op with Kazakhstan among top priorities
Samarkand Automobile Plant in Uzbekistan to produce ambulances
Uzbekistan increases number of refrigerated cargo wagons
Indonesia reports 1,447 new coronavirus infections
Overall production up in Turkmenistan with major part falling on private sector
China allocates humanitarian aid to Kazakhstan, backing anti-COVID battle
Turkmenistan reveals its oil production data for 1H2020
Iran's government stays committed to raising production
Uzbekistan receiving humanitarian aid from US charities
Weekly review of Azerbaijani currency market (June 26-July 3)
Azerbaijan's Bank BTB increases its total liabilities
Georgian municipality reveals volume of potato harvest
India coronavirus cases hit record high amid monsoon rains
Litzenberger: US, Azerbaijan share important partnership (VIDEO)
Russia's coronavirus cases near 675,000, death toll passes 10,000
Australia's Victoria reports 108 new coronavirus cases, biggest jump since March
UNEC brand was also known in Estonia
Uzbekistan to direct IDA's loan on urgent COVID-19-response measures
Least attractive Kazakh economy sectors for French companies revealed
Turkmenistan's cargo transportation for 1H2020 revealed
Turkmenistan's GDP increases in 1H2020
Tokyo new coronavirus infections over 100 for third day
Seven police hurt in violence at London music event
Europe to supply Asian countries with olive products through Georgia
Georgia reports new cases of coronavirus
Brazil health regulator Anvisa allows Chinese COVID-19 vaccine trial
Kazakhstan's import of Canada-made goods nearly twofold down
Armenia violates ceasefire with Azerbaijan 42 times
Azerbaijan's SOCAR Polymer planning to produce next polypropylene batch
Aeromexico shares rise for second day despite missed debt payment
Kazakhstan’s oil producing company to buy pipes via tender
Kyrgyzstan’s COVID-19 cases reach 7,094
Kazakhstan confirms 1,644 new coronavirus cases over past 24 hours
Israeli PM asks citizens to follow COVID-19 restrictions due to surge in morbidity
Air France set to cut more than 7,500 jobs
Turkey nearly halves leather export to Uzbekistan
Iran cuts import of electrical goods from Turkey
Iran among top three countries in world for caviar producing, sturgeon farming
Brazil reports over 1.5 mln COVID-19 cases, with 63,174 deaths
Geostat reveals producer price indices for services in Georgia
Chinese mainland reports 3 new confirmed COVID-19 cases
Japan's Cokey Systems talks its activities in Uzbekistan
4 dead in small plane crash in Utah mountains
Global coronavirus cases rise to more than 11 million
4 injured in shooting at shopping mall in U.S. Alabama
U.S. South Carolina reports 20.7 pct positivity rate from new coronavirus tests
Export of Turkish chemicals to Uzbekistan declines
Geostat: Georgia increases fruit exports
Mexican soldiers kill 12 in cartel clash near border
Iran says to announce cause of nuclear facility "incident" at "appropriate time"
4 killed, 108 wounded in fireworks factory blast in NW Turkey: ministers
Brazil set to pass 1.5 million coronavirus cases, cities reopen anyway
Zarif writes to Borrell on EU's noncompliance with JCPOA
WHO sees first results from COVID drug trials within two weeks
Number of job seekers from Turkey to Kazakhstan increasing
Spain registers rise in new COVID-19 cases in past week
Saudi-led coalition intercepts 4 bomb-laden drones
Switzerland to open borders for Georgian citizens from July 20
Over 400 beat COVID-19 in Kazakhstan
Turkey reports 1,172 new COVID-19 cases, 203,456 in total
Official talks use of RES by private companies in Kazakhstan's Karaganda
Pakistani foreign minister tests positive for COVID-19
All news