Press release

AEC in cooperation with EY organized the training sessions for the entrepreneurs on “Financial Statements and Audit”

Baku, 7 February 2018

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The National Confederation of Entrepreneurs Organizations of Azerbaijan Republic (AEC) in cooperation with EY organized the training sessions for the entrepreneurs on “Financial Statements and Audit” on 7-8 February 2018.

The training was led by EY Assurance Manager Kamran Safaraliyev and EY Assurance Senior Ziya Mikayilov.

The presentations and discussions covered both accounting aspects such as the IFRS treatment of revenue, and auditing aspects such as objects and objectives, types, importance and results as well as audit opinions. A special focus was the application of a new revenue standard (IFRS 15) and the importance of auditing and its implications.

Furthermore, training participants’ interest in the effectiveness of internal control systems and the auditing process was addressed in greater detail by citing real cases and best practices.

Kamran said: “The trainees were extremely interested in IFRS accounting and value added by audits and proactively participated in discussions. I am very happy with the training, and I hope that this cooperation between EY Azerbaijan and AEC will be long lasting and productive. As a company, we highly value this cooperation.”

Ziya commented: “The training can be regarded as successful in view of the participants’ interest and positive comments and the professional approach of AEC. I consider AEC’s efforts in this direction to be very well planned and wish them all the best in their future pursuits.”

EY Azerbaijan was delighted by the cooperation with AEC and would like to thank all participants for their positive involvement!”

About AEC
AEC is a non-profit, a self-governing public union aimed at social objectives which promotes business environment in Azerbaijan, coordinates on voluntary basis activities of legal and physical entities undertaking entrepreneurial activity irrespective of their business entity type and property form (excluding state funded organizations), helps them to find new partners domestically and overseas, protects their legal and economic rights and fosters a healthy business climate.

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 Baku, Moscow, St. Petersburg, Novosibirsk, Kazan, Krasnodar, Rostov-on-Don, Togliatti, Vladivostok, Almaty, Astana, Bishkek, 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 in Azerbaijan
EY made a major commitment to the development of Azerbaijan and the region by opening the office in Baku 24 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.