Vahid Novruzov, Chairman of the Chamber of Auditors of Azerbaijan, and Saftar Valizade, Deputy Chairman of the Committee on International Standards on Auditing and International Financial Reporting Standards under the Board of the Chamber, attended the jubilee event of the European Federation of Accountants and Auditors for SMEs (EFAA), as well as the international conference on “Preparation of small- and medium-sized audit organizations for the coming years” and the EFAA’s annual general meeting for 2024.

The international conference addressed the challenges and opportunities encountered by small and medium-sized accounting and auditing firms, highlighting EFAA’s contributions over the past 30 years. Topics of discussion included the application of artificial intelligence in accounting and auditing, the evolving role of tax accountants, accountability within the context of sustainable development, and auditing in small- and medium-sized enterprises. There were also exchanges of views on new approaches to conducting accounting, auditing, and consulting services in the domain of sustainable development.

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The Azerbaijani delegation provided insights into the preparations for COP29, scheduled to be held in Azerbaijan this November, and emphasized the significance of an upcoming international scientific-practical conference themed “Accountability and Transparency in the Green Economy,” organized by the Chamber of Auditors on September 16-17 of this year.

The European Federation of Accountants and Auditors for small and medium-sized enterprises (EFAA for SMEs) is an umbrella organization for national accountants and auditors’ organizations whose individual members provide professional services primarily to SMEs within the European Union and Europe as a whole. It was founded in 1994.