The Chamber of Auditors of Azerbaijan (CAA) plans to present a revised version of the draft law "On Auditing" in March. According to the report of CAA, presentation of the consolidated draft law and discussions on it are scheduled for March, which is included in the work plan for this year.
As previously reported, CAA when preparing the bill analyze tdhe legislation in the field of auditing in more than 20 countries. In addition, in the preparation of the document they took into consideration the suggestions and recommendations of the World Bank.
Innovations in the law "On Auditing" also suggest the presence of a list of entities that should carry out an annual statutory audit, requirements for audit companies, organization of exams for the work as an independent auditor, the procedure for issuing licenses for audit activities and other. questions.
Audit activity in Azerbaijan is currently governed by the law "On Auditing Service" adopted in 1994. --17D-
Economics
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Azerbaijani Economy Minister Mikail Jabbarov met with a Chinese delegation led by Shen Yi, Deputy Executive Chairman of the All-China Federation of Industry and Trade, on Tuesday to explore collaboration on green energy transition and expand bilateral trade and economic ties.
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Azerbaijan’s Working Group on International Trade held its latest meeting on September 19, assessing the nation’s progress in enhancing its trading environment over the past year. Chaired by First Deputy Economy Minister Elnur Aliyev and Vusal Shikhaliyev, the session included representatives from various government agencies and the private sector.
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Azerbaijan commemorates the 30th anniversary of its pivotal Production Sharing Agreement (PSA) for the Azeri-Chirag-Guneshli (ACG) oil fields, a cornerstone of the nation’s economic transformation. Signed on September 20, 1994, the PSA was extended in 2017 through 2049, ushering in the second phase of what is dubbed the “Contract of the Century.”
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The heads of railway administrations from Azerbaijan, Turkey, Uzbekistan, Kyrgyzstan, Tajikistan, China, and Austria have signed a protocol establishing the International Association "Eurasian Transport Route." The agreement, formalized during an advisory meeting, signifies a major step toward enhancing cooperation on the growing Eurasian logistics network.
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