Azerbaijan, Baku, May 24 / Trend N.Ismayilova /
Azerbaijan is developing a bill on business audit, Deputy Head of the Legislation and Legal Expertise Department at the Azerbaijani Presidential Administration Ilgar Gurbanov said at an international seminar on "Improvement of the monitoring system: the international experience and its application in Azerbaijan."
"The Cabinet of Ministers together with relevant ministries is drafting a law regulating the process of conducting audits of business," Gurbanov said. "We expect to achieve positive results from its realization."
The bill will play a significant role in regulating the process of inspections of business, enhancing the confidence of the business sector, eliminating interference in their activities and creating a favorable business environment in the country.
International Finance Corporation (IFC) project manager for investment climate in Azerbaijan Irina Niderberger said in recent years Azerbaijan has made great progress in improving the investment climate.
"IFC welcomes such initiatives [preparation of the bill], because it will improve all the regulatory and technical requirements that govern the inspection system and bring them into line with each other," Niderberger said.
Head of the Entrepreneurs Development Policy Department at the Economic Development Ministry Zaur Gasimov said Azerbaijan examines the experiences of various countries in the field of business audit.
Azerbaijan created a unified information registry checks in business, which operates from May 1.
"The primary goal in creating the registry checks of business is to provide business entities and inspection bodies with the accurate data," Gasimov said.
The Justice Ministry created a registration information system supporting the formation, maintenance and use of the registry, and the protection of stored data in it.
