Control of the financial circulation of COP29 is carried out jointly with the supreme audit body, the press service of COP29 Azerbaijan Operating Company informed APA.
"As it is known, preparations for the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change - COP29 - are ongoing. The public is regularly informed about the work done and planned measures within the framework of preparation. Relevant allocations have been approved in the state budget for holding the conference.
It should be noted that due to the allocated funds, it is planned to organize the international conference at a high level, which is one of the most large-scale and prestigious events in the world, and to build the necessary infrastructure. It should be noted that the organization of the international conference, which is one of the largest and most prestigious events in the world, at a high level and the construction of the necessary infrastructure are expected to be carried out at the expense of the allocated funds.
In order to exercise financial control over public funds allocated to COP29, together with the relevant state bodies, the supreme audit body of the state evaluates the financial management of the organization of the conference, the compliance of the allocated state funds with the approved indicators, the amounts of the concluded contracts with the funds allocated in the relevant direction, as well as the compliance of the execution of the contracts with the contract conditions, as well as the completeness of the relevant documentation.
The purpose - is to prevent financial violations before they occur, taking into account the points mentioned in the relevant audit principles on pre-audit (initial audit) during financial control.
At the same time, the purpose of conducting financial control is accountability and transparency, as well as efficient use of the funds allocated for the organization of the event and return of the saved amounts to the budget.
It should be noted that after the completion of the event, a report and an auditor's opinion will be prepared by both the international organization and the Accounting Chamber on the audit of all expenses," was noted.
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