ABAK-Az Crowe Ltd talks audit services' role in Azerbaijan

BAKU, Azerbaijan, Nov. 13

By Zeyni Jafarov - Trend:

Audit services in Azerbaijan have reached a high level in such a short time, a local ABAK-Az Crowe Ltd company told Trend.

According to the company, the growth rate of audit services is based on the professionalism and high-quality performance of auditors' duties. Measures taken by the Chamber of Auditors of Azerbaijan also play an important role.

“However, there are currently more and more cases in the audit field when auditors prepare unfounded reports that infringe on the interests of customers, thereby violating, in some cases, the laws of the country. To address the existing problems, special attention should be paid to the regulation of the audit service and the improvement of audit quality control,” said the company.

“In order to solve existing problems in 2021, citizens will be presented with several updated projects in the field of software and taxation, which is one of the measures to develop audit services in the country. This is a new survey system, namely a survey of employees to assess the workplace and employer rating, a clinic management program, that is, registration of basic operations and procedures in the clinic (hospitalization, medical history and appointments) and a pawnshop management program, including registration of basic operations and procedures (accepting collateral, issuing a loan, repaying a loan and interest),” the company noted.

ABAK-Az Crowe Ltd has been a member of the Chamber of Auditors of Azerbaijan since 2003 and over the years the company has been providing high-quality audit services to construction, manufacturing, service and trading companies, as well as financial institutions operating in Azerbaijan.