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''Energy Efficient Regions'' program implemented in Armenia with $1.7 million EFSD grant
Electricity saving in public buildings participating in Armenia's ‘’Energy Efficient Regions’’ program have reached 40%. YEREVAN, November 21. /ARKA/. Electricity saving ... ... million grant from the Eurasian Fund for Stabilization and Development (EFSD). As part of the program, a preliminary energy audit of over 150 public buildings was conducted, resulting in the selection of 13 buildings where energy efficiency measures ...
11/21/2024EBRD and Ernst & Young to conduct study on competitiveness of small and medium-sized companies in Armenia
The Armenian Ministry of Economy in cooperation with the EBRD and with the assistance of Ernst & Young, an international audit and consultancy corporation, has initiated a study on the competitiveness of Armenia's small and medium-sized enterprises (SMEs). YEREVAN, 16 October. /ARKA/. The Armenian Ministry of Economy in cooperation with the EBRD and ...
10/16/2024Ardshinbank hosts panel discussion on economic and trade sanctions as part of 33rd EBRD Business Forum
... the public and private sectors in combating sanctions evasion, and the importance of information transparency. The panel discussion was attended by international experts such as Arakel Meliksetyan, Head, Financial Monitoring Center, Central Bank of Armenia, Elitza Kavrakova, Group Head of Institutional Clients, Raiffeisen Bank International AG, Martial Nicolas Smets, Director, ARGOS Advisory and Audit, Michael Strotmann, Senior Legal Advisor Financial Sanctions, UniCredit Group and William Rich, Head, Banking Client Sanctions Compliance, Citi. Ardshinbank is the leading Bank in Armenia with a diversified universal banking offering including retail ...
05/16/2024Zarubezhneft subsidiary enters solar energy projects in Armenia
In 2023 Russian Zarubezhneft's subsidiary ZN Energy LLC acquired 50% stakes in project companies in Armenia engaged in solar power generation, Interfax news agency reported citing ZN Energy's report. YEREVAN, April 12. /ARKA/.... ... for the development of the acquired projects," the report says. It also notes that the company is conducting technical audit and economic evaluation of new renewable energy projects both in Russia and abroad. Thus, in Russia, solar energy projects ...
04/12/2024Kerobyan admits there were problems at ANIF, but does not disclose details
Armenian Economy Minister Vahan Kerobyan admitted on Monday that there were problems at the Armenian National Interest Fund (ANIF),... ... reviewed the Fund's mandate and its management capabilities." he said. According to Kerobyan, although KPMG provided a clean audit report, the ministry felt that it did not accurately reflect ANIF's financial results and sent its comments to the Fund's ...
01/09/2024Grant Thornton Armenia Announces New Chairman of the Board
Grant Thornton Armenia concludes 2023 with the announcement of significant appointment of Armen Hovhannisyan in the role of Chairman of the Board,... ... these years." The newly appointed Chairman of the Board, Armen Hovhannisyan, is one of the leading experts in the field of audit and accounting for financial organizations. Since 1998, he has led the relevant department at Grant Thornton Armenia, concurrently ...
12/18/2023French Defense Minister announces expansion of cooperation with Armenia
France will send a military adviser to Armenia and will also train Armenian special forces, the head of the French Armed Forces Sebastien Lecornu said after talks with ... ... memorandum of understanding on future deliveries of Mistral air defense systems. The French side also intends to conduct an audit of the ground air defense forces of Armenia. -0-
10/24/2023All roads in Armenia to be audited for safety
A safety audit of all roads in Armenia will be conducted, Deputy Minister of Territorial Administration and Infrastructure Kristine Ghalechyan said in the parliament on Tuesday.. YEREVAN, September 12. /ARKA/. A safety audit of all roads in Armenia will be conducted, Deputy Minister ...
09/12/2023Fly Arna has successfully received IOSA certificate
... joint venture company between ANIF and Air Arabia Group, announces a significant milestone in its commitment to ensuring safety and operational excellence. T The airline has been successfully registered as an IOSA Operator under the IATA Operational Safety Audit program (IOSA), positioning it as the only Armenian carrier to attain this internationally recognized safety accreditation in Armenia. This certification, valid for two years, was awarded to Fly Arna after a successful audit on its operational management and control systems. This comprehensive ...
08/21/2023Armenian NGOs express deep concern about Azerbaijani "environmentalists" engaged in political manipulations
In a statement issued today Armenian non-governmental organizations express deep concern about the position of Azerbaijani "environmentalists" engaged ... ... was implemented with additional conditions. Considering the need for a "green" energy transition, an international audit of the activities of the Baku-Tbilisi-Ceyhan and other oil and gas industry projects, fulfilled and unfulfilled obligations,...
07/20/2023Amundi-Acba makes huge investment in Armenian economy
Amundi-Acba made an investment from the assets of Balanced and Conservative pension funds in the first EU-Armenia SME private equity fund that invests in the equity capital of companies operating in various sectors of the RA economy,... ... investment, a board of directors was established where we have our representative, a financial director was appointed and an external audit institute was introduced. This fosters the culture of the company since it moves from a small institution to a corporate ...
07/19/2023New positions to be created in Armenian schools
The Armenian Ministry of Education, Science, Culture, and Sports has revised and adjusted the list of vacancies in schools. YEREVAN,... ... this September," the minister said at a joint meeting of the standing parliamentary committees, convened to discuss the Audit Chamber's report. -0-
06/23/2023Eco-village and ski complex worth $190 million will be built on the slope of Aragats Mountain
An eco-village and a ski resort with ropeways will be built on the slope of Mount Aragats in Armenia, Economy Minister Vahan Kerobyan told a government meeting today. YEREVAN, March 2. /ARKA/. An eco-village and a ski ... ... program designed by the government to encourage private investments. The minister said the government will hire a prominent audit firm to monitor the implementation of the project. Kerobyan said he had discussed this project with a French company that ...
03/02/2023Parliament elects new member of Chamber of Accounts
The Armenian National Assembly on Tuesday has elected a new member of the Chamber of Accounts. YEREVAN, January 17. /ARKA/. The Armenian National Assembly on Tuesday has elected a new member of the Chamber of Accounts. The new member of the country's ...
01/17/2023Four catering companies in Armenia accused of stealing 23 million drams
Four catering companies in Armenia are accused of stealing 23 million drams of public funds, the Office of Prosecutor General said today. YEREVAN, May ... ... resort town of Tsaghkadzor. According to the prosecutors, after looking into the tax bills and invoices of the companies the Audit Chamber and the Department for Protection of State Interests of the Prosecutor’s Office found out that the number of people ...
05/30/2022Armenian Chamber of Auditors and Expert Accountants holds annual general meeting
The Chamber of Auditors and Expert Accountants of Armenia held on Monday its annual general meeting at Elite Plaza Business Center in Yerevan, the Chamber said in a press release. YEREVAN, May 23. /ARKA/. The Chamber of Auditors and Expert Accountants of Armenia held on Monday its annual general meeting ...
05/23/2022Armenian parliament elects former finance minister as chairman of Audit Chamber
Armenia’s Ex-Minister of Finance Atom Janjughazyan has been elected today Chairman of the Audit Chamber in a secret ballot by parliament members. YEREVAN, March 2. /ARKA/. Armenia’s Ex-Minister of Finance Atom Janjughazyan has been elected today Chairman of the Audit Chamber in a secret ballot by parliament members. Janjughazyan, nominated ...
03/02/2022Parliamentary committee approves nomination of Atom Janjughazyan as head of Armenia’s Audit Chamber
Еhe committee on financial and budgetary issues of the Armenian National Assembly has approved today the nomination of former Finance Minister Atom Janjughazyan for the post of Chairman of the Audit Chamber. YEREVAN, February 14. /ARKA/. The committee on financial and budgetary issues of the Armenian National Assembly has approved today the nomination of former Finance Minister Atom Janjughazyan for the post of Chairman of the Audit Chamber....
02/14/2022Atom Janjughazyan nominated for post of chairman of Audit Chamber
The ruling Civil Contract party of Armenian Prime Minister Nikol Pashinyan that controls 71 seats in the 107-member National Assembly has nominated former finance minister Atom Janjughazyan for the post of Chairman of the Audit Chamber. YEREVAN, January 31. /ARKA/. The ruling Civil Contract party of Armenian Prime Minister Nikol Pashinyan that controls 71 seats in the 107-member National Assembly has nominated former finance minister Atom Janjughazyan for the post of ...
01/31/2022Pashinyan approves composition of council dealing with constitutional reforms
Armenian Prime Minister Nikol Pashinyan approved today the composition of a council that will be engaged in development of constitutional ... ... set up a 5-member commission on constitutional reforms. Pashinyan said on January 24, 2022 that the authorities will have to audit the current Constitution and see if there were opportunities to improve it. He didn't rule out that amendments will be introduced ...
01/27/2022Chairman of Armenian Audit Chamber resigns
The Chairman of Armenia's Audit Chamber Levon Yolyan is resigning before the end of his term in office. YEREVAN, January 19. /ARKA/. The Chairman of Armenia's Audit Chamber Levon Yolyan is resigning before the end of his term in office. Yolyan has tendered his resignation,...
01/19/2022Grant Thornton Armenia and HR-Association conduct employer rating survey
To expand the framework of their long-term cooperation, Grant Thornton Armenia and HR-Association signed a Memorandum aimed at increasing the role and efficiency of human resource management in Armenia ... ... 10. About Grant Thornton Armenia Grant Thornton Armenia, a member of Grant Thornton International, is the market leader in audit, business, risk and cyber security and accounting consulting services. About HR-Association of Armenia HR-Association ...
11/29/2021Hayastan All-Armenian Fund to commission international audit firm to investigate use of donations raised during Nagorno-Karabakh war
The Board of Trustees of the Hayastan All-Armenian Fund said on March 15 that it will commission an international audit firm to investigate the use of the donations raised during the war in Nagorno-Karabakh. YEREVAN, March 16. / ARKA / The Board of Trustees of the Hayastan All-Armenian Fund said on March 15 that it will commission an international audit firm to ...
03/16/2021Improving Governance and Fighting Corruption for Inclusive Growth in the Caucasus and Central Asia
... competitive process. Georgia reformed its tax codes and business registrations as well as public financial management procedures. Armenia requires legal entities in the extractive industry and financial sector to provide information on their beneficial owners ... ... awarded entities, establishing strong internal controls and external oversight of public finances that includes independent audit, strengthening accountability of SOEs—given the dominant role they play in many countries in the region—, and enhancing ...
02/10/2021Armenian government approves economic response program
... first quarter of 2021. “It is obvious that the coronavirus crisis and the war in Nagorno-Karabakh, in addition to health and safety issues, have also become a source of economic shocks. According to statistics, the economic decline in Armenia in 2020 is estimated at 7-8%,”Avinyan said. He noted that thanks to certain economic measures, the government managed ... ... of the plans to start commercial cannabis cultivation. He said also more attention should be paid to the mining sector and an audit of agricultural assistance programs must be conducted. –0--
02/04/2021My Step ruling faction puts up candidate for Armenian Audit Chamber member post
The ruling faction My Step presented Thursday at the parliamentary session Karen Arustamyan's candidacy for the post of a member of the Audit Chamber of Armenia. YEREVAN, December 10. /ARKA/. The ruling faction My Step presented Thursday at the parliamentary session Karen Arustamyan's candidacy for the post of a member of the Audit Chamber of Armenia. As Deputy Chairman of the Standing Committee ...
12/10/2020Hayastan All Armenian Fund to provide portion of funds raised through "We Are Our Borders" fundraising initiative to the budget
The Hayastan All-Armenian Fund's "We Are Our Borders" fundraising campaign was initiated within hours of the start of the war on September ... ... and submitted to the Board of Trustees for approval. The Fund's detailed financial statements will be published following an audit carried out by an independent international auditor. Staying true to the Fund’s mission to use funds sparingly, efficiently ...
11/18/2020Karen Sedrakyan re-elected as member of Armenian anti-trust agency
Armenia's National Assembly has re-elected today Karen Sedrakyan as a member of the State Commission for the Protection of Economic ... ... Research of the Ministry of Finance and Economics. He has a PhD in economics. In 2012 - 2018 he served as head of the internal audit department of the State Revenue Committee. In 2018 - 2019 he was an adviser to the general director of High-Voltage Electric ...
07/08/2020United States helps Armenia combat corruption with $1 million in assistance
On June 23, an online event launched the $1 million, three-year “Technical Assistance to the Audit Chamber of the Republic of Armenia” collaborative activity. YEREVAN, July 3. / ARKA /. On June 23, an online event launched the $1 million, three-year “Technical Assistance to the Audit Chamber of the Republic of Armenia” collaborative activity. The United States Government,...
07/03/2020Armenian parliament in session, Prosperous Armenia boycotting it
At the initiative of the government, Armenian lawmakers gathered on Wednesday for an extraordinary meeting. Deputy Finance Minister Armen Hayrapetyan, introducing ... ... proposes to put 12 issues on the National Assembly’s floor. The performance of the 2019 government budget, the reports of the Audit Chamber, the Central Bank and the Central Election Commission as well as the loan agreement with the IMF on increasing credit ...
06/24/2020Armenia sees drop in tax collection rate because of coronavirus
Due to the coronavirus pandemic, the tax collection rate has declined, according to Artur Hakobyan, deputy head of the Tax Audit Office at the State Revenue Committee. YEREVAN, June 12. /ARKA/. Due to the coronavirus pandemic, the tax collection ... ... second quarter will become known only in July. A 30-day state of emergency to curb the spread of coronavirus was declared in Armenia on March 16 and restrictions were imposed on free movement of citizens. The government banned also some types of economic ...
06/12/2020Taxes paid by 1000 largest Armenian companies in first quarter grew by 11 percent
Artur Hakobyan, deputy head of the Tax Audit Office at the State Revenue Committee, recalled today that Armenia's 1000 largest corporate taxpayers paid a total of 245.6 billion drams in taxes in the first quarter of 2020, by 24.6 billion drams or 11% more from the same time span of 2019. YEREVAN, June 12. /ARKA/. Artur Hakobyan, deputy head of the Tax ...
06/12/2020Armenia’s State Revenue Committee unveils annual program of comprehensive tax audits
The State Revenue Committee of Armenia published Tuesday an annual program of comprehensive tax audits for the period from July 1, 2020 to July 1, 2021. YEREVAN, June 2. /ARKA/. The State Revenue Committee of Armenia published Tuesday an annual program of comprehensive tax audits for the period from July 1, 2020 to July 1, 2021. The department ...
06/02/2020Pashinyan says two criminal cases launched into developments involving two Armenia-registered airlines
Armenian Prime Minister Nikol Pashinyan said today that two criminal cases have been ... ... operate flights to Europe had been suspended earlier this month by the European Aviation Safety Agency (EASA). YEREVAN, April 15. /ARKA/. Armenian Prime Minister Nikol Pashinyan... ... activities of Armenian airlines. According to him, in 2019 autumn, the EASA conducted an audit at one of the Armenian airlines and issued t a warning about the discovered violations...
04/15/2020Major irregularities found in Armenian defense ministry's diesel fuel procurement
The State Audit Office of Armenia has scrutinized the legality and effectiveness of defense ministry's diesel fuel procurement in 2019 for the needs of the department. YEREVAN, March 11. /ARKA/. The State Audit Office of Armenia has scrutinized the legality and effectiveness ...
03/11/2020The number of women holding senior positions in Armenia increased by 1% in 2019 to 23% of the toatl: Grant Thornton
... International released its 2020 Women in Business report. According to the report, the number of women holding senior positions in Armenia has increased by 1% in 2019, reaching 23%. YEREVAN, March 6. /ARKA/. Ahead of International Women’s Day, Grant ... ... broader clientele, she added. Grant Thornton International is an international organization that brings together independent audit, accounting and consulting firms that provide audit, tax and consulting services to private and public companies. Grant ...
03/06/2020New risks emerge in micro businesses area - Armenia's State Revenue Committee to conduct additional inspections
... businesses area, Karen Tamazyan, the head of the tax administration monitoring and control agency of the State Revenue Committee of Armenia, told reporters on Wednesday. He said that the committee in 2020 embarked on inspection of taxpayers operating in the ... ... value-added tax. He also said that a new approach to conducting inspections was introduced in 2019, according to which a preliminary audit of taxpayers is carried out first, also on the basis of a questionnaire and risk assessment. "Based on such inspections,...
03/04/2020Armenia's State Revenue Committee returned 162.5 billion drams as vat refunds
In 2019, Armenia's State Revenue Committee (SRC) returned 162.5 billion drams as VAT refund to economic entities, by 72.4 billion drams or 80.3% more than in 2018, Telman Asatryan, the head of the SRC tax audit department, said today. YEREVAN, February 28. /ARKA/. In 2019, Armenia's State Revenue Committee (SRC) returned 162.5 billion drams as VAT refund to economic entities, by 72.4 billion drams or 80.3% more than in 2018, Telman Asatryan, the ...
02/28/2020BSTDB president on Armenian economy, bank secrecy and global crises
In an exclusive interview with ARKA news agency, the President of BSTDB Dmitry Pankin speaks about the Armenian economy, the risks it faces, the volume of financing it can absorb and more. YEREVAN, February 18. /ARKA/. The Black ... ... think it will be right to invent some kind of currency or something artificial. ARKA - According to the estimates of the PwC audit company, 2020 will be a year of slowdown in global economic growth to 3.4%. Many experts predict a large-scale crisis by ...
02/18/2020New appointments made in Grant Thornton Armenia
Year 2020 starts for Grant Thornton Armenia with changes in the governance and organizational structure that will serve to bring the firm’s new strategy and bold ... ... Grant Thornton Armenia is entering into an interesting phase and I am confident that under Armen Hovhannisyan’s leadership our audit firm will achieve new milestones”, Gagik Gyulbudaghyan is quoted in the company's press release. Armen Hovhannisyan is ...
02/03/2020Large Armenian companies and mass media will have to undergo mandatory audits
Armenia's Deputy Prime Minister Mher Grigoryan called today for introduction of mandatory audits of large businesses, including the media. YEREVAN, January 16. /ARKA/. Armenia's Deputy Prime Minister Mher Grigoryan called today for introduction of mandatory audits of large businesses, including the media. Speaking at a Cabinet meeting,...
01/16/2020Armenia's anti-trust agency to reveal monopolists in local media market
Armenia's anti-trust agency intends to reveal monopolists in the local media market in 2020, Gegham Gevorgyan, the head of the ... ... 26.6 million drams (about $55.4 thousand) to the Public Television and Radio Company Council to commission an international audit of services provided by the Admosphere Armenia company for researching and monitoring Armenia's digital television audience....
01/16/2020Armenia's Audit Chamber reveals a string of breaches in social protection service
Armenia's Audit Chamber has revealed a string of breaches after inspecting the Social Protection Service of the Ministry of Labor and Social Affairs, the daily 'Zhoghovurd' (People) writes in today's issue. YEREVAN, December 18. /ARKA/. Armenia's Audit Chamber ...
12/18/2019Armenia's state audit office exposes 2.1 billion drams worth abuses
Armenia's State Audit Office exposed 2.1 billion drams worth abuses after inspecting the Jrar company's performance in 2014-2018. YEREVAN, December 11. /ARKA/. Armenia's State Audit Office exposed 2.1 billion drams worth abuses after inspecting the Jrar company's ...
12/11/2019Armenian deputy prime minister praises EEU for becoming more efficient and quicker in responding to various challenges
Armenian Deputy Prime Minister Mher Grigoryan praised today the Eurasian Economic Union (EEU) for becoming more efficient and ... ... becoming more efficient and quicker in responding to various challenges. He was speaking at a joint meeting of top officials of audit chambers of the EEU member countries in Yerevan. He described the Russia-led economic bloc as 'effective integration association' ...
11/28/2019PriceaterouseCoopers considers expansion of activity in Armenia
Armenian President Armen Sarkissian received today a delegation of PricewaterhouseCoopers (PwC), his press office said. YEREVAN,... ... the framework of other presidential initiatives. PricewaterhouseCoopers is a member of the world's largest networks providing audit, accounting, corporate finance, tax and legal consulting services operating in 158 countries. Since 2007, the company has ...
10/30/2019South Caucasus Railway operating Armenia's railroads goes on strike
The South Caucasus Railway (SCR), a subsidiary of state-owned Russian Railways, operating Armenia's railroads , has gone on strike, Yerkir.am reported. YEREVAN, October 23. /ARKA/. The South Caucasus Railway (SCR),... ... Committee launched a criminal case against a former Deputy Minister of Transport for hiding a long string of abuses identified by an audit of the South Caucasus Railway. In late 20018 December, the Investigative Committee said it was investigating SCR’s activities ...
10/23/2019Pashinyan and Russian Railways executives discuss future cooperation
Armenian Prime Minister Nikol Pashinyan received today the CEO of the state-owned Russian Railways and the Russian Railways Board ... ... Committee launched a criminal case against a former Deputy Minister of Transport for hiding a long string of abuses identified by an audit of the South Caucasus Railway. In late 20018 December, the Investigative Committee said it was investigating SCR’s activities ...
10/08/2019Armenian ad hoc commission to make audit of mining companies
Armenia's National Assembly decided today that an ad hoc parliamentary commission, to be set up to make a thorough audit of the legality, validity and reliability of financial and other reports submitted by mining enterprises to the government, will consist of 18 members. YEREVAN, October 4. /ARKA/. Armenia's National Assembly decided today that an ad hoc parliamentary ...
10/04/2019Russian Railways preparing to break off agreement with Armenia
The state-owned Russian Railways (RZD) is preparing to break off the agreement with Armenia, claiming that its authorities are blocking the operation of its subsidiary South Caucasus Railway (SCR), which operates ... ... Committee launched a criminal case against a former Deputy Minister of Transport for hiding a long string of abuses identified by an audit of the South Caucasus Railway. In late 20018 December, the Investigative Committee said it was investigating SCR’s activities ...
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