6 LICENCES FOR AUDIT SERVICES GRANTED IN 2007

YEREVAN, JANUARY 14, NOYAN TAPAN. The RA ministry of finance and
economy granted 6 licences for providing audit services in 2007. In the
indicated period, 6 licences for audit services were cancelled, 7
licences suspended and one licence for providing audit services was
reformulated.

State duties of 8 mln 234.1 thousand drams were collected in order
envisaged by law in 2007, including duties of 8 mln 82.5 thousand drams
from audit companies and duties of 151,6 thousand drams – from private
auditors. Fines of 800 thousand drams were imposed.

Out of 27 applicants who took an auditor qualification examination, 5
received a qualification of auditor, while out of 78 persons who took
an accountant qualification examination, 33 a qualification of
accountant. State duties of only 315 thousand drams (about 1,000 USD)
were charged from the persons who took examinations for qualification
of auditors and accountants.

According to the press service of the RA ministry of finance and
economy, as of January 1, 2008, there were 29 licensed audit
organizations and 6 licensed private auditors in Armenia. As of the
same date, 157 auditors and 20 accountants had valid qualification
certificates.