Chamber of Audit to launch a quality control in KPMG

Baku. 21 July. REPORT.AZ/ "The Chamber of Audit has made a decision to conduct the quality control in the KPMG audit company based on the appeal of the Creditors Committee of the "Bank Standard" CJSC that in the process of liquidation", Chairman of the Committee Akram Hasanov said.

"By the uninomous decision of the Creditors Committee, I have sent a letter to the Chamber of Audit regarding the KPMG audit company, as well as to Switzerland (country of the company's registration) and the Netherlands (where headquarters of the company is located). KPMG has acted as an external auditor of the biggest banks that have gone bankrupt in the history of the country. As a result, the people, who invested their money to these banks, have faced a risk of losing 1 billion AZN. Therefore, it should find out whether the KPMG is guilty of the bankruptcy of these credit organizations. Furthermore, despite the conflict of interests, KPMG has estimated the remained property of "Bank Standard" and received additional payment for it.

I have received a response to my appeals. In his letter, Ambassador of the Netherlands has informed me that he has submitted my appeal to headquarters of the company. The Chamber of Audit has reported that it will conduct unscheduled control and inform us about results," A. Hasanov noted.