53. Must reports from political parties and/or candidates include information on itemized income?

17-1.6. The political parties failing to submit their annual financial statements as required in the Law of the Republic of Azerbaijan “on Accounting”, shall be held liable as provided by law.

Source: Article 17-1.6., Law on Political Parties, 1992 (amended 2018).

14.5. Non-government organisations shall publish their annual financial statements in accordance with the requirements of article 12 of this law.

Source: Article 14.5.,  Republic of Azerbaijan Accounting Law, 2004.

Election Funds of Candidates, Registered Candidates, Political Parties and Blocs of Political Parties during Elections to the Milli Majlis

Source: Article 159, Election Code of the Republic of Azerbaijan, 2003 (amended 2018).

Election Funds of Presidential Candidates

Source: Article 191, Election Code of the Republic of Azerbaijan, 2003 (amended 2018).

Election funds of Political Parties, Blocs of Political Parties and Candidates for Municipal Membership

Source: Article 125, Election Code of the Republic of Azerbaijan, 2003 (amended 2018).

The Law on Political Parties requires political parties to keep their accounts in pursuant to the Accouning Law. The Accounting Law refers to National and International Accounting Standards as well as Consolidated Financial Statements. Political parties submit their financial annual financial statements in compliance with accounting rules set by Article 12 of this Law ("Rules for the Submission and Publication of Financial Statements of Commercial Organisations"). Political parties' financial reports include consolidated itemized income.

There is no specific standard of reporting itemized income for candidates in parliamentary, presidential and municipal elections as well as block of parties, however, Election Code defines the sources of Election Funds of Candidates, Registered Candidates, Political Parties, and Blocs of Political Parties during Elections to the Milli Majlis (Article 159),  of Election Funds of Presidential Candidates (Article 191) and of Election funds of Political Parties, Blocs of Political Parties and Candidates for Municipal Membership (Article 125). Therefore, these sources and limits shall be presented in the reports.