Contabilidade e regras contábeis no Azerbaidjão
Accounting Rules
- Tax Year
-
The financial year begins on the 1st of January and ends on 31st December of the same year.
- Accounting Standards
-
The Azerbaijani accounting norms respect the norms by the International Accounting Standards Board.
For more information, visit the website of the Ministry of Finance of the Republic of Azerbaijan (in English and Russian).
- Accounting Regulation Bodies
-
Ministry of Finance of the Republic of Azerbaijan
- Accounting Reports
-
Certain companies have to use the IFRS norms : financial institutions, big companies, Investment Funds and credit institutions. Other companies have the choice between IFRS and national (NAS) norms. Small companies (whose annual sales turnover is less than 2.5 billion AZM or whose assets value is less than 5 billion AZM) will have the choice between NAS and a simplified method of accounting.
The accounting structure includes the balance sheet, the profit and loss account and the notes to the accounts.
- Publication Requirements
-
With the exception of companies operating under a Production Sharing Agreement (PSA), annual accounts should be in Azeri and in the local currency (manat). The Production Sharing Agreement (PSA) exempts certain foreign companies from the form of their accounts. In practice, the majority amongst them use the IFRS norms.
- Professional Accountancy Bodies
-
The Chamber of Auditors of Azerbaijan Republic
Association of Accountants of the Republic of Azerbaijan
- Certification and Auditing
-
Audit is obligatory for companies having foreign capital, for Private Limited companies and companies whose annual turnover is more than 2.5 billion AZM or whose assets value is more than 5 billion AZM.The auditor should be certified by the Chamber of Auditors of Azerbaijan.
The Auditing Services Law 1995 governs the audit rules in Azerbaijan. These are based on the international norms (ISAs).
You can contact an external auditor: Ernst & Young, PricewaterhouseCoopers.
- Accounting News
-
© eexpand, todos os direitos de reprodução reservados.
Últimas atualizações em April 2024