ECONOMY


Grant Thornton to prepare consolidated Extractive Industries Transparency reports covering 2018-2019

Baku, July 13, AZERTAC 

The Extractive Industries Transparency Commission (EITC) has held its next meeting at the State Oil Fund of the Republic of Azerbaijan (SOFAZ) with the participation of representatives of civil society, local and foreign extractive companies operating in Azerbaijan and international organizations.

The Opinion of the Working Group on technical indicators and qualifications of the independent and specialized audit firms involved in the procurement competition through Request for Proposals announced by the EITC for the preparation of consolidated EIT reports covering 2018-2019 were presented to the EITC. Later, the financial proposals of the audit firms presented in a closed envelope was opened by Commission, the overall scores were calculated by considering the opinion of the Working Group and “Grant Thornton” was declared the winner with the highest score for preparation of consolidated EIT reports covering 2018-2019. “Grant Thornton” (1st place), “Baker Tilly” (2nd place), “BDO Azerbaijan” (3rd place), “Nexia-EA LLC” and “Abak-Az Crowe Ltd” audit companies have participated in the aforementioned competition.

At the same time, the exchange of views on progress attained on the project for implementation of the Roadmap for Beneficial Ownership Disclosure was carried out, the scope and reporting templates of EIT reports for 2018 were discussed and approved at the meeting.

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