17:23 - 27.10.2025

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October 27, Fineko/abc.az. In accordance with the Accounts Chamber's Work Plan for 2025, Azerbaijan's COP29 Operating Company conducted an audit of revenues and expenses at the stages of preparation and holding of COP29 event.

ABC.AZ informs that the audit was conducted by the COP29 Azerbaijan Operating Company in order to establish confidence in the reliability of income and expense information in the financial statements prepared for the COP29 international event.

The audit used methodologies developed on the basis of the IFPP (INTOSAI Professional Statement Framework) international principles and standards. The audit is not focused on verifying financial documentation, confirming the accuracy of profit and loss statements, determining compliance with the legal framework related to financial management, and evaluating the functioning of the internal control system.

As a result of the audit of the financial statements for the COP29 international event prepared by Azerbaijan operating company COP29 as of May 31, 2025, a positive review was given.

92.5% of the proceeds related to the event came from the State Budget, while 7.5% came from other sources. The funds received were used for operational and other expenses (construction work, consulting services, accommodation, transportation, equipment and technical support, marketing and promotion, all types of Outsours contracts) Azerbaijan's operating company COP29 , which is primarily responsible for COP29, and expenses related to international obligations.

The majority of operating expenses were related to conference venues (65.4%) and content pricing (10.2%). In addition, in exchange for the funds used, non-current assets (machinery and equipment) were received, which, after completion of the event, were duly transferred to the use of a number of governmental agencies.