Azerbaijan, Saudi Arabia sign MoU in financial auditing and control

By Trend

Chairman of the Chamber of Accounts of Azerbaijan Vugar Gulmammadov signed a memorandum of understanding with President of the Saudi General Bureau for Auditing Dr. Hossam Bin Abdul Mohsen Al-Angari in the field of financial auditing and performance control, Trend reports referring to the media of Saudi Arabia.

The memorandum aims to enhance cooperation between the two agencies in the areas of accounting and control, in accordance with the laws and regulations in force in both countries, as well as within the framework of the main provisions and principles of the International Organization of Supreme Audit Institutions (INTOSAI) and the Asian Organization of Supreme Audit Institutions ( ASOSAI).

According to Azerbaijan’s State Customs Committee (SCC), trade with Saudi Arabia exceeded $5.3 million from January through March 2022, while in the same period of 2021, this figure amounted to $3.9 million (an increase of 35.52 percent).