OMM Redaksiyası
President of Azerbaijan Ilham Aliyev has addressed participants of the international scientific and practical conference titled “Stages of audit development: The road from compliance to strategic partnership and trust.”
"Operative Information Center-OMM" reports that the address says:
“Dear conference participants!
I sincerely welcome you to the international scientific and practical conference titled “Stages of audit development: The road from compliance to strategic partnership and trust,” held in Baku to mark the 30th anniversary of the Chamber of Auditors of the Republic of Azerbaijan.
Establishing and developing a modern audit institution has been of particular importance within the framework of large-scale reforms carried out to advance the independent Azerbaijani state and strengthen its economic power. The adoption of the Law of the Republic of Azerbaijan “On Auditor Services” was an important manifestation of National Leader Heydar Aliyev’s high regard for democratic governance principles and the establishment of the institutional foundations of a market economy, as well as a farsighted and purposeful state policy aimed at ensuring financial discipline, transparency and accountability in the country. Established in accordance with that law, the Chamber of Auditors of the Republic of Azerbaijan has carried out highly important and necessary work over the past period to strengthen the institutional foundations of an independent audit system, train professional auditors, develop an environment of transparency and accountability, and create a modern audit model in line with leading international practices. As a result, the scope of auditor services has expanded considerably, while the role of the audit institution in ensuring the reliability of financial statements, increasing transparency, strengthening the fight against corruption and reducing the shadow economy has grown further.
The international conference organized to mark the Chamber of Auditors’ anniversary deserves particular mention for its importance in analyzing, from scientific and practical perspectives, the development path of the auditing profession in our country over the past 30 years; discussing the improvement of the regulatory and legal framework governing audit activities; strengthening the professional self-governance institution; developing quality-control mechanisms; and implementing international auditing standards.
At the same time, discussions within the conference on new directions for the development of auditing amid digital transformation, the integration of big-data analytics and artificial intelligence technologies into audit processes, expanding the role of auditing beyond its traditional compliance function to that of a strategic partner and value-creating institution, as well as strengthening the principles of professional ethics and public trust, are particularly important in view of the requirements of the modern era.
In today’s conditions, when the global economy is rapidly becoming digital and technological transformation is gaining broad momentum, raising audit activities to a new qualitative level is one of the important tasks facing every country. In this regard, the consistent implementation of measures to organize audit activities on a digital basis, expand the use of artificial intelligence and modern data-analytics tools, increase transparency and efficiency in audit processes, and develop innovative audit methodologies in line with international professional standards is particularly important for the effective work of the Chamber of Auditors. At the same time, protecting the reputation of the auditing profession and public trust in it, further strengthening the principles of high professionalism and ethical conduct, and enhancing the professional talent pool are among the key priorities ahead.
I am confident that the discussions to be held and initiatives to be put forward at the conference will contribute to further improving auditing activities in our country, applying digital transformation and artificial intelligence in auditing, expanding international cooperation, and raising the prestige of the audit institution.
On this memorable anniversary, I once again congratulate the staff of the Chamber of Auditors and the conference participants, and wish success to the proceedings.”
