14:55 - 15.09.2023

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September 15, Fineko/abc.az. The amount of distortions revealed during the audit of financial statements conducted by the Accounts Chamber of Azerbaijan for Jan-Aug 2023 exceeded AZN 290 million, ABC.AZ reports, quoting ACA chairman Vugar Gulmammadov as saying this at an international scientific & practical conference.

He added that one of the steps serving to improve the financial statements of the state can be considered the correction of the identified distortions during the audit of financial statements.

"The analysis of the results for 2021-22 shows that for the main part of a significant amount of distortions exceeding AZN 1 bn, adjustments were made with provision of relevant accounting records. Our analysis shows that the revealed distortions in most cases are the result of insufficient development by organizations of the framework of international financial reporting,” Chamber’s chair noted.