The Board of the Ministry of Finance of Azerbaijan has approved new reporting forms and data submission requirements for legal entities owned by the state or in which the state holds a controlling stake, as well as public legal entities created on behalf of the state.
Operative Information Center-OMM reports that the relevant decision was signed to enhance transparency and financial oversight within the public sector. Under the new regulations, these organizations are required to submit detailed forecast data regarding cash flow (income and expenditure estimates), profit and loss statements, financial position, and trade receivables and payables. Furthermore, reports on changes in equity must be provided to the ministry.
The Department of Financial Services and Policy for State Enterprises of the Ministry of Finance has been instructed to submit this decision to the Ministry of Justice within three days for inclusion in the State Register of Legal Acts. This move is part of Azerbaijan's broader economic reforms aimed at improving the efficiency of state-owned enterprises and ensuring rigorous financial accountability. By standardizing reporting mechanisms, the government seeks to better monitor the fiscal health of public entities and align their operations with international financial standards.
