Credit agreement on “Corporate and Public Sector Accountability Project” (CAPSAP) with the World Bank was signed in September, 2008. Based on the agreement within this financed project the sub-components related with the activity of the Chamber- ‘Strengthening audit function in the country’ and ‘Capacity building of the Chamber of Accounts’ were executed. For the goals of these sub-components Swiss Economic Cooperation Organization (SECO) has allocated grant in the total of 2, 0 million USD based on the agreement signed in November, 2011 between the government of the Republic of Azerbaijan and the Swiss Confederation.
At initial stage an international individual consultant was involved on the account of the grant fund to draft the Strategic Development Plan (SIP) for 2012-2014 alongside with several analytical documents.
As a later stage of the project in order to render support to the execution of the Strategic Development Plan for 2012-2014 consultancy services were engaged on 4 areas. These 4 prioritized areas named the following components:
- Introduction of Performance auditing;
- Upgrading Financial auditing;
- Strengthening legislative and standards framework;
- Implementation of human resources and training.
Alongside with this, performance audit manual, performance audit methods guidance, Performance audit strategy for 2015-2016, Pilot audit reports on performance audits, financial audit manual, Financial audit strategy for 2015-2017, Information technology audit strategy for 2015-2017, report on cost benefit analysis on implementation of computer assisted audit techniques, also new draft Law on the Chamber of Accounts responding the requirements of Lima and Mexico Declarations were prepared and 49 standards (ISSAIs) were translated to Azerbaijani language.
The meeting dedicated to final results of the project was conducted on December 17, 2014 with the participation of the Chairman of Economic Policy Committee of the Parliament, Chief of Staff of the Parliament, top management and staff of the Chamber of Accounts of the Republic of Azerbaijan, also the representatives of international consultancy companies, Turkish Court of Accounts, World Bank and EU Delegation in Azerbaijan.