An audit is an independent examination of an organization’s financial statements based on verification of compliance with the rules of accounting, compliance of economic and financial operations with the legislation of the Republic of Azerbaijan, the integrity and accuracy of the organization’s activities reflected in the financial statements. The examination ends with the preparation of the auditor’s report.

The purpose of an audit

The purpose of an audit is to examine the financial statements, to verify the accuracy of the statements or to determine whether they are inaccurate, to verify the completeness, accuracy and completeness of the costs, revenues and financial results of the enterprise in the period under review, and to organize and compile accounting records and reports. control over the observance of the legislation and normative documents regulating the rules of the enterprise and identification of opportunities for more efficient use of the enterprise’s property.

Our an audit services

Some businesses see the audit as part of their efforts to comply with the law, while others see it as a solution to their concerns.

We will help you see this as a platform for a better future for your business.

Net Finance offers you the following audit services based on International Auditing Standards and generally accepted Auditing Standards, using the latest technology:

1. Audit of financial (accounting) reports of economic entities in order to check the compliance of financial and economic operations with the legislation.
2. Audit of tax reports of economic entities in order to verify the compliance of financial and economic operations with the tax legislation.
3. Confirmation of the correctness of the property valuation.
4. Issuance of opinions for the issue of securities.
5. Audit of authorized capital formation.
6. Audit commissioned by the competent authorities.
7. Internal audit.

Subjects of mandatory audit

According to the Law of the Republic of Azerbaijan “On Auditor Service”, the audit, which must be carried out for business entities that must publish their financial statements, as well as in cases directly provided by law, is mandatory, and in other cases voluntary. In accordance with Article 91.4 of the Civil Code of the Republic of Azerbaijan, a limited liability company (except for micro and small businesses) must hire an independent auditor each year to verify the accuracy of its annual financial statements (external audit).

According to Article 464 of the Code of Administrative Offenses of the Republic of Azerbaijan, officials evade obligatory audits in the amount of three hundred to six hundred manats, legal entities – one thousand five hundred to two thousand five hundred shall be punishable by a fine of up to AZN.