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More than half of financial irregularities in Azerbaijan fall on accounting and reporting

Finance Materials 5 June 2020 19:07 (UTC +04:00)
More than half of financial irregularities in Azerbaijan fall on accounting and reporting

BAKU, Azerbaijan, June 5

By Eldar Janashvili – Trend:

As many as 561 violations were revealed in Azerbaijan as a result of the audit inspection of the Chamber of Accounts in 2019, Trend reports referring to the annual report of the Chamber of Accounts.

Following the financial audit inspection, the number and total specific weight of the revealed deficiencies are as follows:

Some 56.23 percent of the total amount in 119 cases accounted for the violations of the requirements of the legislation on accounting and reporting, 20.49 percent of the total amount in 56 cases – for the violations of the requirements of the legislation on capital investments (construction);

Moreover, 5.56 percent of the total amount in 172 cases accounted for the violations of budget legislation; 0.04 percent of the total amount in seven cases – for the violations of the requirements of the legislation on state property; 0.44 percent of the total amount in five cases – for the violations of the requirements of the legislation in the field of banking, credit, foreign exchange transactions and public debt.

As reported, 9.77 percent of the total amount in 136 cases accounted for the violations of the requirements of the legislation on public procurement; 3.57 percent of the total amount in 42 cases - for the violations of the requirements of the legislation on the accrual, collection and payment of budget revenues; and 3.9 percent of the total amount in 24 cases - for violations of the requirements of legislation on extrabudgetary fund, social security and social protection.

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Follow the author on Twitter: @eldarjanashvili

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