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As is known, auditing activity is one of the critical tool for ensuring of financial system transparency.  Therefore, the companies providing audit services and independent auditors act as participants of AML/CFT process.The Chamber of Auditors of  the Republic of Azerbaijan is the relevant body that supervises the observance of AML/CFT legislation requirements by the persons providing audit services within its authorities.

Relevant cooperation relations are established between the Chamber of Auditors and the Financial Monitoring Service.  The Memorandum of Understanding on mutual cooperation in AML/CFT sphere was signed between the Financial Monitoring Service and the Auditors Chamber in April 2010.  According to the Memorandum of Understanding, the parties carry out mutual information exchange on the cases of non-observance of AML/CFT legislation requirements by the monitoring entities and on the measures for elimination of such facts.

At the same time, the Financial Monitoring Service and the Chamber of Auditors cooperate in conducting researches, development of methodic materials, drafting of normative-legal acts, organization of scientific-practical conferences, seminars and trainings.