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Baku hosts meeting of Coordination Council on Accounting under CIS Executive Committee

04 October 2012 10:50 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Today, the 9th meeting of Coordination Council on Accounting under CIS Executive Committee was held in Baku. According to Ministry of Finance, the members of Council from Azerbaijan, Russia, Belarus, Kazakhstan, Kyrgyzstan, Uzbekistan, Institute of Professional Accountants and Auditors of Russia (IPAR), representatives of the Foundation of National Organization on Accounting and accountability standards, Azerbaijan Chamber of Auditors, educational institutions on accounting and training of audit subjects and other organizations attended the meeting.

Azerbaijani first Deputy Minister of Finance Ilgar Fatizadeh noted that, meetings of Coordination Council brought contributions to reforms in accounting system of CIS countries. He also spoke about significant steps in Azerbaijanâ€™s accounting and financial statements, switching to International Financial Statements Standards, important legal normative base, methodical means for education and etc.

Development of National Accounting system, including application of International Financial Reporting Standards, regulation practice of accounting for NGOs, activity of international organizations in accounting were discussed and relevant decisions were passed at the meeting.