EUROSAI. Magazine N24 - 2018

eurosai 90 Studies and other articles Chamber of Accounts of the Republic of Azerbaijan NEW LAW ENACTED ON THE CHAMBER OF ACCOUNTS OF THE REPUBLIC OF AZERBAIJAN The new Law of the Republic of Azerbaijan “On the Chamber of Accounts” of the Republic of Azerbaijan was enacted on 5 September 2018. The new Law identifies important responsibilities and commitments facing the Chamber of Accounts as the Supreme Audit Institution, to ensure more qualitative and effective external state financial control over purposeful, efficient use of state funds and property. The status of the Chamber of Accounts as the Supreme Audit Institution was defined for the first time in the new law, along with the concepts of external state financial control, state funding, external state financial control events and external state financial control bodies. This will serve to eliminate some methodological uncertainties and inconsistencies regarding public finance. The new law contains a separate article regarding the independence of the Chamber of Accounts as the Supreme Audit Institution, as well as providing for the Chamber of Accounts having organisational and functional independence and, thus, the inadmissibility of illegal interference with its activities. It is also being authorised to confirm the structure and number of its staff within the budget allocated to it from the state budget to fully meet the principles identified in ISSAI 1 (the Lima Declaration of Founding Principles of Audit) and ISSAI 10 (Mexico Declaration on SAI Independence). In comparison with the previous law, the new law approaches management of the Chamber of Accounts’ management by specifically identifying the rights and responsibilities of such directorates, these being comprehensively and fully defined, to ensure improved quality of external state financial control conducted by the Chamber and efficient use of state funds and other state property. The new law stimulates accountability enhancement with expansion of electronic integration system between the Chamber of Accounts and state bodies, thus ensuring cycle information exchange, remote audit conduct, organisation and commencement of financial budgetary digitalisation control.

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