Azerbaijani finance officials visit Kazakhstan to boost audit cooperation

A delegation consisting of several of Azerbaijan's high-level finance officials has embarked on a working visit to Kazakhstan to further the countries’ bilateral ties in the field of auditing.

The team is being headed by the Chairman of the Azerbaijani Chamber of Accounts, Vugar Gulmammadov, Caliber.Az reports, citing the Ministry of Finance.

Gulmammadov, who is being accompanied on the working visit to Astana by several representatives of Azerbaijan's finance ministry, has been received by the Chairman of Kazakhstan’s Supreme Audit Chamber, Alikhan Smailov.

The two sides discussed several prospects for cooperation between the two supreme audit institutions, exchanged views on issues of mutual interest, and exchanged reports on their ongoing activities.

In the course of the meeting, the current role of cooperation between the supreme audit institution and the Ministry of Finance in enhancing accountability and transparency in public finance, as well as the importance of joint efforts in ensuring the targeted use of budget funds were underscored.

According to the press release, the sides also acknowledged the fact that the participation of both countries' respective Finance Ministry representatives in the visit facilitated the sharing of practical experience and improving budget management and financial accountability.

Within the framework of the visit, a seminar was held with the participation of various institutions from both countries, featuring presentations on the drafting and execution of the state budget, auditing consolidated financial statements, and a broad exchange of experience in financial management.

“There were also discussions between the [Azerbaijani] delegation and Kazakhstan’s Ministry of Finance on a range of issues related to the development and execution of the state budget, including revenue and expenditure forecasting methodology, budget fund management, results-oriented budgeting, and financial accountability,” the press statement reported.

According to their released information on the meeting, provisions were made to strengthen cooperation between the supreme financial control bodies of the two countries that are in line with Clause 19 of the Comprehensive Cooperation Program between Azerbaijan and Kazakhstan for 2022–2026.

To this end, an Action Plan was approved last year outlining areas of bilateral cooperation for 2024–2026, along with a renewed Memorandum of Cooperation. The document foresees joint audits, training sessions and seminars to increase professional standards, as well as exchange visits to allow for the sharing of best practices among participants.

By Nazrin Sadigova