The Board of Directors of the Asian Development Bank has made a solid decision on appointment of Baku city as a place hosting the 48th Annual Meeting of the Bank to be conducted in 2015***The Moody’s International Rating Agency had increased the long term rating of the Republic of Azerbaijan on foreign currency resources up to the investment level ****The 3rd meeting of the Azerbaijan – USA Intergovernmental Commission on economic cooperation had been conducted ****

Information of the Ministry of Finance of the Republic of Azerbaijan<br> For the attention of commercial organizations

Information of the Ministry of Finance of the Republic of Azerbaijan
For the attention of commercial organizations

20.05.2012

According to the article 4.3.1 of the Law of Azerbaijan Republic on “Accounting” the Ministry of Finance of the Republic of Azerbaijan which is conducting the state regulation in the field of accounting is organizing translation of international standards of financial statements and international standards for Public Sector Accounting into Azerbaijani language and approval of these translated documents received from the Council of International Standards of Accounting, International Federation of Accountants or other relevant bodies as official texts of International Standards of Financial Statements and International Standards of Public Sector Accounting in Azerbaijani language.
There have been conducted activities by the Ministry of Finance of the Republic of Azerbaijan on approval as official texts of the translations into Azerbaijani language of International Standards of Financial Statements on issues for 2011 with the aim to provide execution of requirements defined on the law and the Foundation of International Standards of Financial Statements which is the owner of international standards has officially declared with the letter dated to February 01, 2012 that it is accepting these translations on above mentioned standards as official texts in Azerbaijani language and provided permission for their publication.
The above mentioned foundation has posted these standards on their official web site www.ifrs.org since February 14, 2012.
Taking into account all the above mentioned those official texts are posted on the web site of the ministry too.

THE MINISTRY OF FINANCE