The Azerbaijani Parliament has adopted the draft “Law on Chamber of Accounts” in the second reading, Chairman of Azerbaijan’s Parliamentary Committee on Economic Policy, Industry and Entrepreneurship Ziyad Samadzade said.
He noted that the number of articles has increased in the draft law.
Samadzade added that the draft law reflects financial issues, performance and compliance audit.
The document proposes to increase the powers of Azerbaijan’s Chamber of Accounts, it also envisages improving methods of control over public financial resources, increasing effectiveness of inspections conducted by the Chamber, including through the application of performance audit, and establishes new methods of monitoring.
The draft law will make it possible to expand the capabilities and functions of the Chamber of Accounts, bring the Chamber’s activities in line with modern challenges and international standards. Improving the legal framework will allow the Chamber to strengthen financial discipline and financial control over public funds.
The changes in the law mainly concerned the responsibilities and functions of the Chamber, the fight against corruption offenses, as well as the conduct of audits. The remaining changes are of a technical nature.
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