Deficiencies revealed in Azeristiktajkhizat - fact of embezzlement discovered

16:55 - 27.10.2025


October 27, Fineko/abc.az. In accordance with Accounts Chamber's Work Plan for 2025, Azeristiktajkhizat OJSC was audited for compliance with the management of public funds and other property.

ABC.AZ informs that the external state financial control measure covered the period from 01.01.2023 to 04.01.2025, the actual financial capacity of the audited entity for cash flow totaled 149.3 million manats in receipts and 146.7 million manats in disposals. In general, the absence of Azeristiktajkhizat OJSC facilities (real estate), on which 244 boiler houses are actually located, including some of them in conservation status or under construction, has actualized the issues of optimizing balance sheet ownership in terms of ensuring the sustainability of Azeristiktajkhizat.

Preliminary accounting data shows that the total amount of accounts receivable as of 01.01.2023 amounted to 2.0758 million manats, as of 01.01.2025 - 2.474 million manats, and as of 01.04.2025 - 34.532 million manats, while the level of revenue collection from sales for the period covered by the audit, taking into account debt at the beginning of the reporting year as a whole in the range of 86.0-90.0% (including 71.0-78.0% for the consumer group of the population), but taking into account all debts at the beginning of the reporting year as a whole in the range of 40.0-45.0% (including 20.0-25.0% for the consumer group of the population). Assets worth 161,8067.4 manats have not been properly reflected in financial (accounting) accounting, using the example of the relevant components of boiler houses built, reconstructed or modernized in Baku at the expense of investments financed from the State Budget.