Baku: Azerbaijan and Kazakhstan have reached an agreement on a parallel audit, said Vugar Gulmammadov, Chairman of the Chamber of Accounts, speaking at the 62nd meeting of the ASOSAI Board of Directors in Baku, APA-Economics reports.

According to Azeri-Press News Agency, the agreement is expected to be officially signed and formalized by the end of September. The chairman emphasized that this cooperation is important in terms of exchanging experience and knowledge in auditing the efficient use of public funds.

Vugar Gulmammadov also noted that the Chamber of Accounts of the Republic of Azerbaijan has nominated itself to become a member of the newly established ASOSAI ‘Working Group on Forecasting and Assessment of Public Finance’. Studying international experience in auditing fiscal risks and the allocation of resources to address government challenges will provide contributions to the institution.

The chairman added that in addition to ASOSAI membership, the Chamber has signed bilateral Memoranda of Understanding with Kazakhstan, Kyrgyzstan, the Republic of Korea, and the People’s Republic of China. Within the framework of these memorandums, trainings, seminars, and exchanges of knowledge and experience are being conducted.

Work is also underway to renew the memorandum with Turkey. The Chamber has completed the audit of expenses related to the Igdir-Nakhchivan gas pipeline. At the same time, parallel audits on climate change and agriculture are also planned, Gulmammadov added.