The State Oil Company of the Azerbaijani Republic (SOCAR) plans to increase efficiency, SOCAR Vice-President for economic affairs Suleiman Gasymov said at the 3rd Eurasian Forum of Auditors and Accountants in Baku today, Trend reports.
Budgeting, accounting and management processes are being modernized. The company will operate according to international standards.
SOCAR is implementing a system for risk management, inner audit, treasury management, IT security and preparation of a development strategy.
