Azerbaijani Chamber of Accounts Uncovers Financial Violations Worth $53.5 Million

The Azerbaijani Chamber of Accounts has uncovered financial violations amounting to a staggering 91 million manat ($53.5 million) through external state financial control. The report on the Chamber’s activities for the first half of 2024 revealed that 39.3 million manat ($23.1 million) resulted in losses for the budget.

The audits conducted by the Chamber of Accounts highlighted instances of non-compliance with the unified budget classification, procurement procedures post-service provision, and other violations. In fact, materials from two audits showing signs of criminal offenses have been forwarded to law enforcement agencies for further investigation.

In a bid to enhance management efficiency, the Chamber conducted 38 external public financial audits in 2024, with a focus on areas such as livestock breeding support and safe waste management. This marked a significant increase from the previous year, with the number of audits doubling.

Additionally, the Azerbaijani Chamber of Accounts actively participated in international projects like the “Global Reporting Initiative of Supreme Audit Institutions” and the “Project on Quality Management in Supreme Audit Institutions.” Memoranda were signed with the National Audit Office of China and the Chamber of Accounts of Türkiye, while Azerbaijan also took part in the audit of the financial statements of the ASOSAI Secretariat.

Despite the challenges, the Chamber successfully implemented 93.4 percent of the planned activities within the annual operational plan. Special emphasis was placed on participating in the budgetary process and assessing the execution of the state budget and extra-budgetary funds.

It is important to note that the Chamber of Accounts operates under the Law of the Republic of Azerbaijan, “On the Chamber of Accounts,” which mandates measures of external state financial control, opinion-giving on budget projects and execution, strengthening financial discipline, and providing recommendations for the effective use of public funds and state property.

The Chamber also collaborates with domestic and international institutions and organizations to improve state financial management and control. Stay tuned for more updates on this developing story.