1. Accounting and Reporting in the Public Sector
Ministry of Finance of the Republic of Azerbaijan
State Treasury Agency
Accounting and Reporting in the Public Sector
October 2016
Minsk

2. Stages of accounting reforms in the Republic of Azerbaijan
Completed
Legislative acts
Designing and carrying out a set of activities envisaged by legal legislative acts
Carrying out the training process
In progress
Improving the legislative framework and strengthening institutional bases for accounting
Stage 1
Stage 2
Stage 3
Stage 4

3. Components of accounting reforms
Strengthening the educational component of reforms
Improving the legislative framework in the following areas:
Accounting and audit standards and requirements
Licensing
Professional training
Corporate governance
Quality assurance arrangements
Organizing trainings for accountants
Retraining of teachers
Conducting trainings and setting up a certification center
Submission of annual reports in accordance with the Accounting Law
Development of software for maintaining accounting
Technical assistance from international institutions
Republic of Azerbaijan Law On Accounting (September 2004).
Decree of the President of the Republic of Azerbaijan on application of the Accounting Law (February 2005).
Translation into Azerbaijani of International Public Sector Accounting Standards (IPSAS), IFRS, IFRS for SMEs, and international standards for education and quality management.
Development and approval of national accounting standards.
Development and approval of a program on transition to IFRS.
Development and approval of regulations on financial reporting.
Legislative acts
Developing and carrying out a set of activities envisaged by legal legislative acts
Improving the legislative framework and strengthening institutional bases for accounting
Carrying out the training process

4. Key principles of designing and implementing the educational process
Basic level
Level of university graduates with a degree in accounting, finances or audit; accounting practitioners; and persons who graduated from universities with degrees in other areas but wish to change their professions
Advanced level
Can work as chief accountants
Professional level
Fundamental, expanded and professional level for professional accountants, auditors, and consultants

5. Key principles of designing and implementing the educational process
Certification of accounting and auditing specialists
Coverage of target groups
Single certification center
Recognition by international certification centers
Automation of training, testing, and examination processes
Methodological support for training
Professional career support
Links with higher education institutions
2012
2013
2014
2015
Total
Number of specialists who completed training
336
1438
2652
540
4966
Number of specialists who successfully passed the exam
216
652
1538
325
2731