BAKU, Azerbaijan, March 2. Azerbaijan's budgetary organizations will submit the necessary information on the state budget and consolidated budget to the state body through the "Digital State Finance" information system, Trend reports.
This issue is reflected in the amendments to the law "On the budget system" approved by the President of the Republic of Azerbaijan, Ilham Aliyev.
Under the amendment, organizations funded by the state budget are required to submit the necessary information for the preparation of state and consolidated budget projects, as well as consolidated budget indicators, to the body (or organization) designated by the relevant executive authority within the period specified by the law. Additionally, the submission of state budget indicators, revenue and expenditure distributions, and other relevant data from that body (or organization) to budget-financed organizations will be conducted via the information system of the body (or organization) determined by the relevant executive authority.
President Ilham Aliyev has also approved amendments to the laws "On Accounting" and "On Public Procurement."
As part of the amendments to the "On Accounting" law, the term "e-accounting information system" will be replaced with "information system of the body (organization) determined by the relevant executive authority," as the "Digital State Finance" information system now encompasses accounting activities, including the accounting of state financial and non-financial assets.
Besides, the information system of the body (organization) determined by the relevant executive authority will ensure electronic accounting by accounting entities and the preparation and submission of financial reports, including combined (consolidated) financial reports.
According to the amendments to the law "On public procurement", after signing the contract related to the relevant procurements by the procuring organization through the information system of the body (institution) determined by the relevant executive authority (hereinafter referred to as the information system), the relevant information will be automatically and immediately transferred to the portal by that information system in accordance with this law, and the procurement commission will publish the relevant information on the portal within three working days from the date the procurement contract enters into force.