The Accounting Chamber of Azerbaijan (ACA) at the meeting of March 1 discussed and approved the audit results of funds allocated from the Reserve Fund of the Cabinet of Ministers, heads of several organizations of the executive power of Barda region. In particular, auditors were interested in art and efficient public expenditure management.
Also conducted was an audit of financial activity of JSC Baki Inshaat Layihe. Some materials execution control instructions sent to the Parliament.
In addition, the approved audit of public funds spent by the executive power Bilasuvar.
Accounting Chamber of Azerbaijan, reporting to the parliament, in force since December 7, 2001, as the body that controls the flow budget AR.
Executives (members of the Board, which consists of the chairman, his deputy and seven auditors) are elected every 7 years.
Accounting Chamber of Azerbaijan is generally limited to general statements about the board meeting, without giving specific numbers and data. According to Article 6.0.3 of the Law of Azerbaijan "On receipt of information" ("The basic principles of information"), the disclosure of information on budget revenues and expenditures is the responsibility of government agencies, including the Chamber. - 17D-
Economics
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
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SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has signed a series of agreements at the COP29 summit aimed at bolstering the development of renewable energy sources, enhancing energy efficiency, and promoting sustainable growth in Azerbaijan.
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The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
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