In the framework of the new cooperation agreement the Accounting Chambers of Azerbaijan and Russia have decided to share their experiences of the audit of large-scale sporting events such as the first European Games.
The head of the joint venture Tatyana Golikova at a meeting with her Azerbaijani counterpart Vugar Gulmammadov reported experiences in audit of budget spending on the example of the Sochi Winter Olympics - 2014.
During the meeting they discussed possible areas of future cooperation - from the exchange of practical experience to carrying out joint and parallel audits. If earlier the Azerbaijani side paid attention to the European experience, now it is interested in the study of the methodological base of the Russian control agencies.
The Accounting Chamber of Azerbaijan, accountable to the parliament, operates from December 7, 2001 as the authority controlling the flow of budgetary funds of Azerbaijan.
The executives (members of the Bar, which includes the chairman, his deputy and seven auditors) are elected every 7 years.
This structure is usually limited to generalities about the board meeting, without giving specific numbers or data. According to Article 6.0.3 of the Law of Azerbaijan Republic "On receipt of information" ("Basic principles of information"), the disclosure of information on budget revenues and expenditures is the responsibility of government institutions, including the Court of Auditors. --17D-
Economics
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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