Chamber of Accounts revealed shortcomings in use of SOFAZ funds

Baku. 8 April. REPORT.AZ/ Chamber of Accounts of the Republic of Azerbaijan has revealed a number of shortcomings in the use of funds allocated by the State Oil Company of Azerbaijan Republic (SOFAZ). Report informs referring to the Chamber, in 2012-2014, SOFAZ transferred to the Social Development Fund for IDPs (SDFIDP) 899, 97 mln.AZN.

Thus, the audit found that the legal requirements have been violated on the preliminary preparation of documents on the feasibility of building projects, the technical and economic calculations and state examinations were not provided. 

The Chamber found that despite the creation of the Tender Commission, it didn't actually operate. Also were unveiled advance payments for the construction of 18 districts and villages at that time, and documents justifying the use of these funds as were not provided.

At the same time, due to the late delivery of the object, the cost of unfinished buildings financed by SOFAZ has increased, resulting in an accounts payable and debts.

Three SDFIDP officials were reprimanded, one employee dismissed.