Azerbaijan to benefit from Israel's experience to improve non-state financial control

Azerbaijan is planning to benefit from Israel's experience to increase transparency in its economy, raise the level of non-state financial control, and widely apply digitalization, the Chairman of the Chamber of Auditors of the Republic of Azerbaijan, Vahid Novruzov, said at the event on signing a Memorandum of Understanding between the Chamber and the Institute of Certified Public Accountants (ICPA) in Israel, Report informs.

“We are aware of Israel's great achievements in this field. At the same time, our Israeli counterparts will be able to benefit from our results in the field of innovative development of audit, fight against the shadow economy, and application of digitization in audit,” Novruzov said.

He believes that cooperation with ICPA will help to ensure transparency and establish a high level of accountability, eliminate the shadow economy, gradually increase the role of state and non-state control, including independent audit, and create ample opportunities for solving existing problems and fulfilling upcoming tasks in this field.