Banks of Turkmenistan are preparing for the audit of financial statements
Banks of Turkmenistan are preparing to conduct an independent audit for 2021 in accordance with the requirements of International Financial Reporting Standards (IFRS).
Announcements on international tenders for audit services have already been published by JSCB "Rysgal", AKB "Senagat" and State Development Bank of Turkmenistan.
Conducting an independent audit of financial statements allows banks to confirm the effectiveness of their activities and attract new partners. Banks that are joint-stock companies also conduct audits to increase the confidence of shareholders and increase transparency.
In 2021, the State Commercial Bank "Turkmenbashi" was transformed into an open joint stock company. A year earlier, Halkbank was also transformed into OJSC.
All of the above is a reflection of a unified state policy aimed at integrating the national financial and banking system of Turkmenistan into the international one. This process is designed to promote the development of the Turkmen economy, attract foreign investment to the country, and create good conditions for the work of local and foreign businesses.
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