Regulatory Alerts2021-03-19
Regulations on maintaining accounting in credit institutions of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan issued these regulations to standardize accounting practices for all credit institutions operating in the country. The framework mandates IFRS-compliant double-entry bookkeeping, clearly delineates front-office and back-office responsibilities, and requires daily reconciliation of analytical and synthetic records by the chief accountant. It further establishes strict documentation, archiving, and reporting procedures to ensure accurate financial statements and regulatory compliance.
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