LAW OF THE AZERBAIJAN REPUBLIC

of February 11, 2011 No. 65-IVQD

About modification and amendments in the Law of the Azerbaijan Republic "About auditing service" and the Code of the Azerbaijan Republic about administrative offenses

Millie decides Majlis of the Azerbaijan Republic:

I. The second offer of the second paragraph of article 2 of the Law of the Azerbaijan Republic "About auditing service" (Sheets of the Supreme Council of the Azerbaijan Republic, 1995, No. 7, Article 114; Collection of the legislation of the Azerbaijan Republic, 1997, No. 3, Article 226; 2001, No. 11, Article 683, No. 12, Article 736; 2002, No. 5, Article 241; 2003, No. 1, Article 21; 2004, No. 3, Article 133; 2005, No. 8, Article 684; 2007, No. 11, Article 1053; 2008, No. 3, Article 152; 2009, No. 7, Article 517; 2010, No. 11, Article 938) to state in the following edition:

"For business entities who under the law shall publish the financial reporting and also in the cases which are directly provided by the law, audit is obligatory, and in other cases - voluntary.".

II. In the Code of the Azerbaijan Republic about administrative offenses (Collection of the legislation of the Azerbaijan Republic, 2000, No. 8, the I book, Article 584; 2001, No. 1, Article 24, No. 3, Article 139, No. 7, Article 455, No. 11, Articles 680, 698, No. 12, Article 731; 2002, No. 1, Article 9, No. 4, I book, Article 165, No. 5, Articles 234, 237, 239, No. 6, Article 326, No. 8, Article 463, No. 12, Article 692; 2003, No. 1, Articles 3, 13, 23, No. 4, Articles 177, 178, No. 5, Article 228, No. 6, Articles 257, 276, 279, No. 8, Articles 407, 425, No. 12, I book, Articles 676, 696, II book, Articles 713, 714; 2004, No. 1, Articles 6, 7, 10, 13, No. 4, Articles 200, 201, 204, No. 5, Articles 313, 314, 317, 321, No. 6, Article 397, No. 8, Articles 596, 597, No. 10, Articles 762, 779, No. 11, Article 900, No. 12, Article 973; 2005, No. 1, Articles 5, 6, No. 2, Article 61, No. 4, Articles 272, 273, 275, 278, No. 6, Articles 462, 466, No. 7, Article 576, No. 8, Articles 691, 692, No. 10, Articles 875, 877, 904, No. 11, Articles 993, 994, 995, No. 12, Articles 1083, 1085; 2006, No. 2, Articles 64, 68, No. 3, Articles 219, 220, 223, 225, No. 5, Article 385, No. 6, Article 478, No. 11, Articles 923, 924, 932, No. 12, Articles 1005, 1020, 1024; 2007, No. 1, Articles 3, 4, No. 2, Articles 65, 68, No. 5, Articles 397, 398, 401, 440, No. 6, Articles 560, 561, 562, 579, No. 8, Article 757, No. 10, Articles 935, 936, 938, 940, No. 11, Articles 1048, 1049, 1053, 1070, 1077, 1080, 1089, 1091, No. 12, Articles 1195, 1211, 1217, 1218, 1221; 2008, No. 2, Article 47, No. 3, Articles 146, 152, 159, No. 4, Article 249, No. 5, Article 340, No. 6, Articles 454, 460, 461, 464, No. 7, Articles 601, 602, 605, No. 8, Articles 699, 701, No. 10, Articles 884, 885, No. 11, Articles 956, 957, No. 12, Articles 1045, 1047, 1049; 2009, No. 2, Articles 36, 45, 49, 52, 53, No. 5, Articles 309, 315, No. 6, Articles 404, 405, No. 7, Articles 517, 518, 519, No. 8, Article 611, No. 11, Article 878, No. 12, Article 953, 954, 966, 971; 2010, No. 2, of Article 70, of 71, No. 3, of Article 167, of 171, of 178, No. 4, of Article 275, of 276, No. 5, of Article 379, of 380, No. 6, Article 483, No. 7, of Article 577, of 591, of 594, of 595, of 598, of 600, No. 10, Article 838, No. 11, of Article 936, of 938, of 949) to make the following additions:

1. add with Article 247-3 of the following content:

"Article 247-3. Evasion from statutory audit

Evasion from statutory audit which is required to be carried out in the cases provided by the law

- attracts imposing of penalty on officials in the amount of three hundred to six hundred manats, legal entities in the amount of one thousand five hundred to two thousand five hundred manats.".

2. in Article 360.1 after figure "240-1.2" to add with figure "247-3,".

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