Verification of NFES Expected

The Accounting Chamber of Azerbaijan will hold a long-awaited analysis of the formation and use of funds from the National Fund for Entrepreneurship Support (NFES).

According to the website of the Chamber, the decision was taken at the Board meeting of 26 January. There will also be inspected the Nakhchivan State Technical College, factories, offices and organizations on the balance of the Executive Power of the Khatai district of Baku on the article "Housing and communal services".

The Accounting Chamber of Azerbaijan, accountable to the country's parliament, has been effective since December 7, 2001 as the authority controlling the flow of budgetary funds in AR.

Senior officials (members of the Board, which consists of 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 figures or data. According to Article 6.0.3 of the Law of AR "On receipt of information" ("Basic principles of information"), disclosure of budget revenues and expenditures is the responsibility of government agencies, including the Chamber of Accounts. --17D-