VALUE AND BENEFITS OF THE ACTIVITY OF THE CHAMBER OF ACCOUNTS: APPLICATION OF THE INTOSAI P-12 PRINCIPLE

The public sector auditing carried out by the Supreme Audit Institutions (hereinafter - SAI) is an important institution that benefits society and makes a difference to the lives of citizens. Public sector auditing has a positive impact on trust in society by determining how well public resources are being used. The role of the SAIs as an auditor over the stewardship of public finances leads to the increase of demands and expectations of SAIs from stakeholders, as well as requires them to set up their activity to meet the highest standards and to adapt to the changes that occur. The provision of benefits to society by Supreme Audit Institutions is ensured by the fulfilment of 3 outcomes, directly related to accountability and transparency. The article deals with the work carried out by the Chamber of Accounts of the Republic of Azerbaijan to achieve these outcomes.