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Azerbaijani NGOs freed from obliged audit

16 June 2011 15:41 (UTC +04:00)

As a result of amendments in law on auditor services by the parliament on February 11, 2011, the Administrative Code was amended concerning obliged audit evasion. According to these amendments, as a legal entity, the non-governmental organizations also face money penalty AZN 500-2500 in the case of audit evasion.

Taking into consideration that NGOs have no independent financial sources, mostly based on voluntary principles, donors donâ€™t meet obliged audit expenditures, these organizations regularly report about their financial resources for securing transparency, the Fund of State Support for NGOs requested the Presidential Administration of Azerbaijan, Cabinet of Ministers and Auditors Chamber to drop the NGOs from the list of objects of the obliged audit. According to the decision of the Cabinet of Ministers on June 14, 2011, amendments was made in the Cabinetâ€™s decision No 155 adopted on October 5, 2007 on approval of the implementation of the law of the Republic of Azerbaijan about the domestic audit of the objects of obliged audit. It dropped the NGOs from the list of the objects of obliged audit.