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TO THE ATTENTION AUDITORS!    

 

 

TO THE HEADS OF AUDIT ORGANIZATIONS 
AND INDEPENDENT AUDITORS, 
THE MEMBERS OF THE CHAMBER OF AUDITORS

 

Dear members of the Chamber of Auditors,

We inform you that in accordance with the updated International Standards on Auditing, compiled during the audit of the financial reporting for 2016 by the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) № 206 "Communication with persons responsible for management", № 570 "Probability of continuous operation of an enterprise", № 700 "Formation of an opinion on the financial reporting and the submission of a report", № 701 "Informing about the main audit issues in an independent auditors report", № 705 "Amendments to the report of an independent auditor", № 706 "Explanatory paragraph and paragraph of other issues in an independent auditors report", № 720 "Auditors responsibility for other information contained in audited financial reporting" and Decision of the Council of the Chamber of Auditors № 284/5 of December 27, 2016 "On the implementation of updated International Standards on Auditing approved by the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC)", audits conducted on the results of 2016 should be confirmed by new approved forms of auditors report. To this end, on 17 January 2017, a seminar was held in the Chamber of Auditors on "Preparation of an auditors report and opinion in accordance with the updated ISAs". At the seminar, members of the Chamber of Auditors were instructed to use a new form of auditors report during the audit of the financial reporting for 2016. At the same time, the materials about these changes have been sent to your e-mail address. However, despite this, some of our members still give opinions on the financial reporting of customers in the same manner.

In view of the foregoing, we warn you once again that you must draw up opinions based on the results of your audit in accordance with the requirements of the new standards. Corresponding measures in accordance with the legislation will be taken in respect of audit organizations and independent auditors not complying with the requirements of the updated International Standards on Auditing.

 

Yours faithfully,

S.Gulmammadov

Head of Office of Personnel Training, 
Accreditation and International Relations






To the attention of the members of the Chamber of Auditors!

 

In recent years, thanks to the wise leadership and political will of the President of the Republic of Azerbaijan, Ilham Aliyev, special attention has been paid in our country to the expansion of procedures for preparing and disclosing financial statements of economic entities from the point of view of increasing transparency, fighting against corruption and its preventing.

The "Strategic Roadmap for the National Economy and the Major Economic Sectors", approved by the Presidential Decree of December 6, 2016, set very important tasks for improving reporting. In this sense, the preparation of financial statements based on international standards and the full and timely disclosure of information to the public, along with the opinion of an independent auditor, gain in exceptional importance.

The necessity of audits conducting to be made on the results of 2016, taking into account the requirements of relevant International Standards, has been commented on in the Information Letter № 02-34 of March 16, 2017 addressed to you by the Chamber of Auditors (the letter is attached).

At the same time, this made it necessary to resolve such issues as increasing transparency, preventing tax evasion, taking measures against evading compulsory audit, strengthening of public confidence in the audit, collecting, summarizing, analyzing and disclosing of independent auditors opinions on the financial reports of legal entities in our country.

Taking this into account, from January 1, 2018, after completing work on each audit, you need to send within 1 (one) week a copy of the audit report on the audit of the annual financial reports to the email of the Office of Standardization, Reporting and Analysis of the Chamber of Auditors (hesabat@audit.gov.az).

We inform you that corresponding measures in accordance with the legislation will be taken in respect of members not complying with this requirement.

 

The Chamber of Auditors of Azerbaijan Republic

27.02.2018




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Sorğu

1. Azərbaycanda auditor xidmətinə olan tələb və təklifi necə qiymətləndirirsiniz?
2. Azərbaycan Respublikası Auditorlar Palatası tərəfindən tövsiyə olunmuş auditor xidmətlərinin dəyəri Sizi qane edirmi?
3. Ölkədə auditor xidməti bazarının yaxın perspektiv inkişafını necə qiymətləndirirsiniz?

Poll

Do you need round tables, seminars, discussions arranged by the Chamber of Auditors?

 

Yes

No need

To some extent

Don’t know