President Aliyev: Digitalizing, AI key to strengthening Azerbaijan’s audit system

President of Azerbaijan Ilham Aliyev has called for consistent efforts to bring audit activities onto digital foundations, expand the use of Artificial Intelligence (AI) and modern data analytics, and develop innovative audit methods in line with international professional standards.

Addressing the participants of an international scientific and practical conference in Baku on “Development stages of audit: the path from compliance to strategic partnership and trust,” dedicated to the 30th anniversary of the Chamber of Auditors of the Republic of Azerbaijan, the president highlighted the importance of digitizing audit activities, Caliber.Az reports via state media. 

“In an environment in which the global economy is rapidly digitalizing and technological transformation is gaining momentum, bringing audit activities to a new qualitative level is one of the important tasks facing every country,” Aliyev said.

He said that efforts to digitalize audit activities, broaden the use of artificial intelligence and modern data analytics tools, and improve transparency and efficiency in audit processes were particularly important for enhancing the effectiveness of the Chamber of Auditors.

Aliyev also highlighted the need to develop innovative audit methodologies in line with international professional standards, while maintaining public confidence in the profession and strengthening professional ethics.

“At the same time, preserving the prestige of the audit profession and public trust in it, further strengthening the principles of high professionalism and ethical conduct, as well as developing professional human resources are among the main priorities ahead,” the president said.

The president noted that the development of a modern audit institution had been an important component of Azerbaijan’s broader reforms aimed at strengthening the country’s economic power.

He stressed that the adoption of the Law of the Republic of Azerbaijan “On Audit Service” had reflected National Leader Heydar Aliyev’s emphasis on democratic governance and the institutional foundations of a market economy, as well as efforts to promote financial discipline, transparency and accountability.

According to the president, the Chamber of Auditors, established under the law, has worked over the past three decades to strengthen the institutional foundations of independent auditing, train professional personnel, promote transparency and accountability, and establish a modern audit model based on international practices.

As a result, President Aliyev said, the coverage of audit services had expanded, while the role of auditing had grown in ensuring the reliability of financial statements, increasing transparency, strengthening efforts against corruption and reducing the shadow economy.

He described the anniversary conference as an important platform for examining the development of Azerbaijan’s audit profession over the past 30 years from both scientific and practical perspectives.

“The international conference organized to mark the anniversary of the Chamber of Auditors is particularly important as a platform for analyzing the development path traversed by the audit profession in our country over the past thirty years from both scientific and practical perspectives, improving the legal and regulatory framework governing audit activities, strengthening the professional self-governance institution, developing quality control mechanisms and discussing key issues related to the application of international audit standards,” he said. 

The event is also expected to address improvements to the legal and regulatory framework for auditing, professional self-governance, quality-control mechanisms and the application of international audit standards.

Aliyev said discussions at the conference on digital transformation, big data analytics and artificial intelligence were particularly relevant to the future development of the sector.

He also pointed to the changing role of auditing, saying it should move beyond its traditional compliance function toward becoming a strategic partner and value-creating institution, while maintaining strong professional ethics and public trust.

“I am confident that the discussions to be held and the initiatives to be put forward during the conference will contribute to the further improvement of audit activity in our country, the application of digital transformation and artificial intelligence in auditing, the expansion of international cooperation, and enhancing the prestige of the audit institution,” Aliyev said.

He congratulated the Chamber of Auditors and conference participants on the 30th anniversary and wished the event success.

By Sabina Mammadli