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Next public discussion on audit and assessment with the participation of public and private institutions 31.07.23

At the public discussion on "Audit and assessment" organized by the Public Council under KOBİA, ideas were exchanged on the role of audit and assessment activities in business development and the improvement of this activity.

Organized by the Public Council under KOBİA with the support of the Small and Medium Business Development Agency (KOBİA), the Chamber of Auditors of the Republic of Azerbaijan, the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan and the "Azerbaijan Society of Appraisers" Public Union, a public discussion was held on the topic of "Audit and assessment".

Representatives of relevant state institutions, business associations and entrepreneurs attended the event.

Farhad Garashov, Chairman of the Public Council under KOBİA, pointed out to the fact that independent audit and assessment activities play a special role in ensuring transparency, and the public discussion was held to study the expectations of SMBs operating in this field and the challenges facing them.

Orkhan Mammadov, Chairman of the Board of KOBİA, underlined the fact that SMB entities engaged in audit and assessment benefit from a number of support and services of the Agency. It was reported that the Agency allocated grants to the software project facilitating the process of accounting and reporting of SMBs, and the online accounting program obtained a "Startup" certificate. SMB development centers of the Agency regularly provide training and consulting services for SMB entities on tax, financial and non-financial, accounting disciplines. The chairman of KOBİA also emphasized his opinions on the promotion of international assessment standards and the organization of events for the education of assessors in this field, and the improvement of the Law "On Assessment". It was underlined that most of the taxpayers with inconsistent reports account for micro and small entrepreneurs. This is due to their lack of knowledge and skills in the relevant field, and their inability to involve professional accountants and auditors in the reporting process. In such cases, entrepreneurs should be supported, and at the same time, accounting and reporting forms should be further simplified. Providing promotional materials and holding discussions in the media about the development of audit and current issues can also support the education of SMBs in this field. The development of courses and training programs for training professional auditors and assessors will promote the improvement of quality indicators in the relevant field.

Vahid Novruzov, Chairman of the Chamber of Auditors of the Republic of Azerbaijan, conveyed information on the measures taken to expand the role of audit in enhancing transparency, the full implementation of international audit standards to improve the auditor service, and further expand the internal audit service and control systems for auditors' activities.

Vugar Oruj, Chairman of the Board of Directors of the "Azerbaijan Society of Appraisers" Public Union, stated his views on the current state of the relevant field and the activities of the public union.

As part of the event, mutual perspectives were shared on the role of audit and assessment in business development and improvement of this activity, and questions from entrepreneurs were addressed.