Azerbaijan Caspian Shipping Supervisory Board discusses audit results, future strategies

The Supervisory Board of Azerbaijan Caspian Shipping CJSC held its next meeting in 2021.

The meeting was attended by the members of the Supervisory Board, as well as the Chairman and the members of the Board of Directors of Azerbaijan Caspian Shipping CJSC.

At the meeting chaired by Samir Sharifov, Chairman of the Supervisory Board and Minister of Finance of the Republic of Azerbaijan, the Regulations and composition of the committees, which were established to increase the efficiency and improve the management of Azerbaijan Caspian Shipping CJSC in line with modern corporate management standards, and the Corporate Secretary Regulations were discussed and approved.

In the course of the meeting, the members of the Supervisory Board and the Board of Directors of Azerbaijan Caspian Shipping CJSC discussed the financial statements of the company for the year 2020 together with the representatives of the international audit company that conducted the audit.

In addition, during the meeting, a presentation was made with the participation of the international experts on the results of the diagnostics of the company’s activities in legal, financial, tax and commercial areas; the presentation was followed by voicing ideas on how to improve these activities.

In light of the results of the activity diagnostics, relevant instructions were given at the meeting to develop a business strategy for Azerbaijan Caspian Shipping CJSC that will be able to meet new challenges.

The Supervisory Board of Azerbaijan Caspian Shipping CJSC was established by the Order of the President of the Republic of Azerbaijan dated the 11th of February 2021.