Press release

EY Azerbaijan participated in the Annual Accountants Forum, organized by the Azerbaijan Accountants and Risk Professionals Association

Baku, 25 October 2017

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EY Azerbaijan participated in the Annual Accountants Forum, organized by the Azerbaijan Accountants and Risk Professionals Association (ARPA) on Friday 27 October. The event was titled IFRS 9 – Implementation and Challenges.         

Mr. Rufat Mahmud, Chairman of the ARPA Supervisory Board, opened the forum by welcoming the guests and speakers. He highlighted the importance of such events, which play an important role as a platform for discussing ways of addressing potential difficulties that may arise during the implementation of IFRS 9 Financial Instruments.

The forum speaker from EY was Andrey Eliseev, EY Moscow Risk Senior. He gave a presentation on IFRS 9, providing insights into recent changes and its practical implementation.

“The transition from IAS 39 to IFRS 9 is a challenge for companies all over the world, and the Azerbaijani financial market is no exception. The ARPA forum and its large number of participants demonstrate market players’ special focus on this issue. As the market leader in the CIS, EY can deliver exceptional client service when implementing IFRS 9,” said Andrey.

About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and economies around the world. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In doing so, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY works together with companies across the CIS and assists them in realizing their business goals. 4,500 professionals work at 20 CIS offices (in Moscow, St. Petersburg, Novosibirsk, Kazan, Krasnodar, Rostov-on-Don, Togliatti, Vladivostok, Almaty, Astana, Bishkek, Baku, Kyiv, Tashkent, Tbilisi, Minsk, and other locations).

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

EY in Azerbaijan
EY made a major commitment to the development of Azerbaijan and the region by opening the office in Baku 23 years ago. Today, in addition to being the leading audit and consulting firm in Azerbaijan, we are the leading professional services firm in the region. As a result of our experience and competence, we have been able to assist both domestic and international companies as well as state-owned entities to develop and manage the challenges of the international economy.

There are currently more than 190 people working in our Baku office that serve our clients in Azerbaijan. EY’s strength in the Caspian Region and the firm’s commitment of resources are important to the entities operating in the region. It means that as we grow, EY will continue to demonstrate a tradition of hiring and training local professionals to be leaders in our practice.