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The process of public
review of draft accounting standards issued by the Ministry
of Finance of Azerbaijan is as follows:
A draft of each new NASCO is exposed to public review and
comment, hence the name Exposure Draft. The exposure could
take place in any way that ensures that interested parties
have access to the draft for a period of at least 60 days
from publication. All new Exposure Drafts developed with the
help of the current EU project will be displayed on this website.
Any comments received from this public exposure are then submitted
to the Advisory Council for Accounting (ACA). This body was
set up in 2005 to assist the Ministry of Finance with the
development of financial reporting standards for Azerbaijan
that conform to best international practice. Within 30 days
of receiving the Exposure Draft the ACA considers the public
comments received and forwards its official opinion on the
draft NASCO to the Ministry of Finance. The Ministry then
reconsiders the Exposure Draft taking in account all comments
received makes amendments as necessary to the draft standard
before approving the release of the final version of the NASCO.
Current Exposure Drafts
The Ministry of Finance has now released the exposure
drafts of four new NASCOs for comment by all interested
parties. Respondents are invited to send their comments electronically
to the project by email (ias@cscl.biz)
or in writing for the attention of Aida Mamedova at the following
address:
TACIS Project Office
Accounting Policy Department
The Ministry of Finance
83 Samed Vurgun Street
Baku AZ1022
Azerbaijan Public comment on these draft standards is invited
over the course of a total 60 days from the date of initial
exposure. Accordingly, comments will be accepted in the requested
format by 25th June 2007.
Azerbaijan Public comment on these draft standards is invited
over the course of a total 60 days from the date of initial
exposure. Accordingly, comments will be accepted in the requested
format by 05th August 2007.
Azerbaijan Public comment on these draft standards is invited
over the course of a total 60 days from the date of initial
exposure. Accordingly, comments will be accepted in the requested
format by 20th August 2007.
Azerbaijan Public comment on these draft standards is invited
over the course of a total 60 days from the date of initial
exposure. Accordingly, comments will be accepted in the requested
format by 10th September 2007.
Azerbaijan Public comment on these draft standards is invited
over the course of a total 60 days from the date of initial
exposure. Accordingly, comments will be accepted in the requested
format by 18th September 2007.
Exposure Drafts (Exposure Validity Expired)
In this section are displayed the exposure drafts that have
already been issued by the Ministry of Finance of Azerbaijan
for public review and comment and whose validity period for
exposure has expired.
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