Azerbaijan, Saudi Arabia sign deal on financial audit and control

Azerbaijan and Saudi Arabia signed a memorandum on cooperation in financial audit and control on May 6, 2022.

The memorandum was signed by Chairman of the Azerbaijani Chamber of Accounts Vugar Gulmammadov and President of the General Court of Audit of Saudi Arabia Dr. Hussam bin Abdulmohsen Al-Angari, Trend reports with reference to the Saudi Arabian media.

The memorandum is aimed at expanding cooperation between the two structures in the field of financial audit and control in accordance with the laws and regulations valid in both countries and within the main provisions and principles of the International Organization of Supreme Audit Institutions (INTOSAI) and the Asian Organization of Supreme Audit Institutions (ASOSAI).

According to the Azerbaijani State Customs Committee, trade turnover between Azerbaijan and Saudi Arabia exceeded $5.341 million from January through March 2022 compared to $3.941 million in the same period of 2021 (an increase of 35.52 per cent for the year).