BAKU, Azerbaijan, September 16. President of the Republic of Azerbaijan Ilham Aliyev addressed the participants of the international scientific and practical conference on "Development stages of audit: the path from compliance to strategic partnership and trust."
The text of the address was published on the official website of the President of Azerbaijan.
"Dear conference participants,
I cordially greet you in Baku at the international scientific and practical conference on "Development stages of audit: the path from compliance to strategic partnership and trust," dedicated to the 30th anniversary of the Chamber of Auditors of the Republic of Azerbaijan.
Within the framework of large-scale reforms implemented toward the progress of the independent state of Azerbaijan and the strengthening of its economic power, the formation and development of a modern audit institution have been of special importance. The adoption of the Law of the Republic of Azerbaijan "On Audit Service" was an important manifestation of the high value attached by National Leader Heydar Aliyev to the principles of democratic governance and the formation of the institutional foundations of a market economy, as well as of a visionary and purposeful state policy aimed at ensuring financial discipline, transparency and accountability in the country.
The Chamber of Auditors of the Republic of Azerbaijan, established in accordance with that Law, has undertaken important and necessary work over the past period to strengthen the institutional foundations of the independent audit system in the country, train professional audit personnel, develop an environment of transparency and accountability, and establish a modern audit model in line with advanced international practices. Consequently, the coverage of audit services has expanded significantly, and 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 anniversary of the Chamber of Auditors is particularly important as a platform for analyzing the development path traversed by the audit profession in our country over the past thirty years from both scientific and practical perspectives, improving the legal and regulatory framework governing audit activities, strengthening the professional self-governance institution, developing quality control mechanisms and discussing key issues related to the application of international audit standards.
Within the framework of the conference, the discussion of new areas for the development of audit activities in the context of digital transformation, the integration of big data analytics and artificial intelligence technologies into the audit process, the expansion of the role of audit beyond its traditional compliance function to that of a strategic partner and value-creating institution, as well as the strengthening of professional ethics and public trust are of particular significance in meeting modern requirements.
In an environment in which the global economy is rapidly digitalizing and technological transformation is gaining momentum, bringing audit activities to a new qualitative level is one of the important tasks facing every country. In this regard, consistent efforts to establish audit activities on digital foundations, 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 are particularly important for enhancing the effectiveness of the Chamber of Auditors. At the same time, preserving the prestige of the audit profession and public trust in it, further strengthening the principles of high professionalism and ethical conduct, as well as developing professional human resources are among the main priorities ahead.
I am confident that the discussions to be held and the initiatives to be put forward during the conference will contribute to the further improvement of audit activity in our country, the application of digital transformation and artificial intelligence in auditing, the expansion of international cooperation, and enhancing the prestige of the audit institution.
On the occasion of this significant anniversary, I once again congratulate the staff of the Chamber of Auditors and the conference participants and wish the event every success," the address notes.
