Regulatory Alerts2021-04-27
Regulations on Requirements Regarding External Auditors of Investment Funds
The Financial Markets Supervisory Authority of Azerbaijan issued Resolution 1851100006 to establish mandatory requirements for external auditors of investment funds and fund managers. The regulations mandate that auditing organizations maintain strict independence, employ at least two specialists with recognized international accounting degrees and three years of experience, and conduct audits under International Standards on Auditing. Furthermore, the framework governs auditor selection and replacement procedures while limiting consecutive audits by the same organization to five years.
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