More companies will be the subject of audit

BAKU/04.03.14/Turan : Activities of auditors needs rethinking to bring them to the international standards. The Chamber of Auditors of Azerbaijan (CAA ) plans in April to conduct a public discussion of the draft of the new law " On Auditing Service," - said in a press release structure.

" The development of the new law " On Auditing Service. " Chamber until April 3, will take suggestions on the draft law from interested organizations. Public discussion of the project planned for the first ten days of April," - said in a statement.

In preparing the new law analyzed specific legislation more than 20 countries . Moreover, the preparation of the bill were considered the proposals and recommendations of the World Bank - says the organization's website .

The draft law " On Auditing Service" defines a list of entities that must conduct an annual statutory audit requirements for audit companies , organization of examinations for work as an independent auditor, the procedure for issuing licenses for audit activities and other issues.

AR Law " On Auditing Service" has operated since 1994. Only 5% of businesses are required to provide the results of economic activity, according to the last financial cycle . - 17D-