State Oil Fund of the Republic of Azerbaijan (SOFAZ) held a competitive bidding procedure aimed at selection of an audit company for auditing its financial statements for 2019-2021. Leading international audit companies represented in Azerbaijan were invited to participate in the bidding, which was organized in compliance with the procurement laws.

After the evaluation of the proposals presented by the bidding audit companies, pursuant to the Statutory Regulations of SOFAZ, PricewaterhouseCoopers Audit Azerbaijan (PwC) was appointed as the auditor of SOFAZ’s financial statements for 2019, 2020, 2021 by the President of the Republic of Azerbaijan.