The Cabinet of Ministers of the Republic of Azerbaijan has amended the "Rules for the organization of the professional accountant certificate issuance process, conducting examinations, and maintaining the state register of persons who have received a professional accountant certificate," originally approved by a decree dated May 22, 2019.
According to the Operative Information Center-OMM, Prime Minister Ali Asadov has signed a new decree to formalize these changes.
Under the updated regulations, candidates applying for a Level I or II professional accountant certificate on International Public Sector Accounting Standards (IPSAS) are now exempt from the first stage of the examination if they hold one of the following certifications:
- A certificate in International Public Sector Accounting Standards issued by the Chartered Institute of Public Finance & Accountancy (CIPFA);
- A certificate in International Public Sector Accounting Standards issued by the Association of Chartered Certified Accountants (ACCA).
Furthermore, professional accountants holding these certifications are now eligible to serve as chief accountants in budget-funded organizations with a staff of up to 100 employees. This eligibility also extends to local divisions of central executive authorities, subordinate budget organizations not included in their structure, and budget organizations financed from local expenditures, regardless of the total number of employees.
These regulatory updates are part of Azerbaijan's ongoing efforts to align national accounting practices with international standards, enhancing transparency and financial accountability within the public sector. By recognizing globally accredited certifications like those from CIPFA and ACCA, the government aims to streamline the professional development of accountants and ensure that public financial management is handled by highly qualified specialists.
