The next webinar on "Ways to conduct an audit in the context of a pandemic, taking into account international experience" was held on April 23, 2020 in the Chamber of Auditors of the Republic of Azerbaijan

The situation with the spread of COVID-19 has not gone unnoticed for the audit profession - independent audit which is one of the main guarantors of transparency of financial statements and which is indispensable in transparency in the economy, implementing the recommendations and instructions of the President of the Republic of Azerbaijan Mr. Ilham Aliyev in the fight against the shadow economy, efficient use of economic resources, ensuring economic security. In the current situation, the Chamber of Auditors is taking comprehensive measures to support auditors in the proper performance of their duties and responsibilities. Thus, the challenges of the new era require the application of advanced and innovative methods in our work, the use of new procedures, compliance of audits with the requirements of International Auditing Standards, Code of Professional Ethics and other legal documents, and most importantly, improving the quality of audit services and professional image.

In order to support the work carried out under the leadership of President Ilham Aliyev to implement the economic policy which successfully implemented in our country and to see soon positive results in the near future and to ensure the effectiveness of this support, the Chamber of Auditors carefully studies the experience of international auditing and accounting institutions, as well as relevant foreign regulators. At the same time, research is being conducted in the field of application of local measures, taking into account the characteristics of the national economy. In order to implement effective measures in this direction at the remote webinar on the topic "Solving problems and challenges facing the auditing services in a pandemic" held by the Chamber of Auditors on April 14, 2020 for audit organizations and independent auditors on the basis of the current situation in the field of audit, forthcoming problems and proposals and recommendations "Action Plan of the Chamber of Auditors of the Republic of Azerbaijan on combating pandemic and elimination of its consequences” was approved.by the Order No. 1/12 of the Chairman of the Chamber dated April 15, 2020. In accordance with this Action Plan, the Working Staff established in the Chamber of Auditors began to implement comprehensive measures, and on April 23, 2020, another remote webinar was held for audit organizations and independent auditors on the tupic "Ways to conduct audits taking into account international experience in a pandemic". In his opening remarks at the webinar, the Executive Director of the Chamber, the head of the working staff Sabuhi Gulmammedov greeted everyone and gave detailed information about the work done by the Chamber of Auditors so far in the field of auditing in the fight against the pandemic during the coronavirus. Then Najaf Talibov, Chairman of the Committee on Methodological Support of Science and Auditing, Director of TNM Audit LLC, Aygun Safarova, Auditor of Alfa-Audit JSC and a member of the Committee on International Auditing Standards and International Financial Reporting Standards, Saftar Velizade, Director of “SR Audit Solutions” LLC, conveyed to the audience their views on how to conduct an audit in the context of a pandemic, taking into account international experience and creation of a transparent (unified) database that allows online collection of all types of operations of business entities (banking transactions, economy, import-export, purchase and sale, etc.) and the preparation of tax, financial and other reports that ensure access to all parties. During the webinar, which took place in a business environment, professional discussions were held on the current situation on the topic, the challenges ahead and their solutions.

During the webinar, it was decided that the Chamber would take into account the proposals and recommendations of audit organizations and independent auditors who are members of the Chamber of Auditors and take urgent measures to improve the existing methodological framework for auditing, taking into account the requirements of the pandemic.

 

Working Staff of the Chamber of Auditors of the Republic of Azerbaijan

 

Qalareya