Azerbaijan's Chamber of Auditors and Türkiye's Public Oversight, Accounting, and Auditing Standards Authority Have Signed a Memorandum of Understanding in the Field of Auditing and Accounting.

The document envisages the establishment of institutional partnership mechanisms between the two institutions, the regulation and improvement of audit quality, increased transparency and reliability of financial reporting, joint certification of auditors, and cooperation in combating money laundering and terrorist financing, The Caspian Post reports, citing local media.

According to the memorandum, the parties will expand the exchange of information and experience, collaborate on the application of auditing and accounting standards, external quality control mechanisms, human resource development, and joint training programs.

The meeting also discussed the initiative to create a Unified Association of Audit and Accounting Institutions of Turkic-Speaking States.