Reforms in line with international practices in financial reporting will continue, Azerbaijani Deputy Minister of Finance, Azer Bayramov, stated, Report informs.
He made the remark during a meeting held at the ministry with representatives of the world's leading auditing and consulting networks, Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG.
He noted that continuing reforms in accounting and financial reporting in accordance with international practices is currently one of the main challenges facing the Ministry of Finance.
It was also emphasized that this meeting with the world's leading auditing and consulting networks is an important step aimed at implementing these tasks.
The meeting also discussed issues related to implementing reforms in the field of accounting and tax accounting.
As part of the meeting, proposals were put forward regarding existing practices in accounting and taxation and alignment with international standards. Among the main topics of the meeting were the creation of more effective mechanisms for tax purposes for accounting of depreciation and repair expenses, the implementation of certified software in the field of accounting, as well as studying international practices in GRP (Government Resource Planning).
Additionally, there was an exchange of views on the application of international experience in state funds working with IPSAS (International Public Sector Accounting Standards) and IFRS (International Financial Reporting Standards), and ensuring compliance with international standards in accounting and financial reporting by Public Legal Entities.
