The Business Development Fund maintains accounting records, compiles, presents and publishes financial statements in the manner established by the law of the Republic of Azerbaijan “On Accounting” for legal entities of public law.
As Day.Az reports with reference to AZERTAC, this is reflected in the Charter of the Fund, which was approved today by President Ilham Aliyev.
The Fund’s funds in national currency can be stored in bank accounts opened with the Central Bank of the Republic of Azerbaijan.
The Foundation compiles and submits statistical reports in accordance with the Law of the Republic of Azerbaijan “On Official Statistics”.
The Fund ensures verification of the financial and economic activities of departments, branches, representative offices and business companies, as well as other subordinate institutions.
The Fund engages an external auditor to independently audit its activities. An agreement cannot be concluded with the same external auditor for more than three years in a row.