(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 18.​ The State Oil Company of the Republic of Azerbaijan (SOCAR) has signed a Memorandum of Understanding (MoU) with the Chartered Institute of Management Accountants (CIMA) to enhance collaboration in finance and management, Trend reports citing SOCAR.

The MoU was signed at CIMA's headquarters in London by SOCAR Vice-President Zaur Gurbanov and CIMA Chief Executive Officer Andrew Harding.

The accord is designed to enhance competencies and proficiency in fiscal and managerial domains, advance corporate governance and accounting methodologies in alignment with global benchmarks, and fortify SOCAR's financial operations.

Within the scope of the project, forthcoming endeavors encompass collaborative training frameworks, credentialing initiatives, and the reciprocal exchange of experiential insights in pertinent domains.

Founded in 1919 in the United Kingdom, CIMA is one of the world's leading professional organizations in management accounting, operating in over 170 countries and providing advanced training and certification for finance leaders and managers. CIMA, together with the American Institute of Certified Public Accountants (AICPA), also established the internationally recognized Chartered Global Management Accountant (CGMA) certification.

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