BAKU, Azerbaijan, April 7. The Central Bank of
Azerbaijan (CBA) has reminded joint-stock companies of their legal
obligations regarding the preparation, submission, and disclosure
of annual reports, Trend
reports, citing the CBA.
Under the Law “On Securities Market,” annual reports must be
prepared based on the results of the completed calendar year and
approved by the general meeting of shareholders, except in cases
specified by law. Companies are required to submit these reports to
the Central Bank within ten business days of approval. Unless
instructed otherwise by the CBA, the reports must also be disclosed
on the company’s website and through media outlets within 30
calendar days of submission.
The CBA highlighted that annual reports must include a
management report, financial statements, and an external auditor’s
opinion, except for micro and small businesses. Companies that
cease operations during the year are advised to notify the Central
Bank and provide documentation, including the general meeting
decision and a certificate from the State Tax Service.
The Central Bank warned that companies failing to submit their
annual reports on time will receive formal warnings and may face
administrative penalties under the Code of Administrative
Offenses.
For questions regarding reporting requirements, the CBA
encourages companies to contact its Call Center at 966.
