Azerbaijan, Türkiye sign MoU to improve auditing, combat financial crime

Azerbaijan's Chamber of Auditors and Türkiye’s Public Oversight, Accounting and Auditing Standards Authority have signed a Memorandum of Understanding (MoU) to deepen collaboration in auditing and accounting, the Chamber of Auditors reported.

The MoU sets out plans to establish institutional partnership mechanisms, enhance audit quality, increase transparency and reliability in financial reporting, jointly certify auditors, and cooperate in combating money laundering and terrorist financing, Caliber.Az reports via local media. 

Under the agreement, both countries will expand the exchange of information and expertise, collaborate on applying auditing and accounting standards, implement external quality control mechanisms, develop human resources, and conduct joint training programs.

During the meeting, officials also discussed the initiative to create a Unified Association of Audit and Accounting Institutions for Turkic-speaking states, aiming to foster regional cooperation and standardization in the auditing and accounting sectors. 

By Sabina Mammadli