SOFAZ starts annual self assessment on GAPP
Baku, Fineko/abc.az. The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has carried out the first self assessment on the Generally Accepted Principles & Practices (GAPP).
The SOFAZ reports that it was closely involved in identifying and drafting GAPP, as a member of the International Forum of Sovereign Wealth Funds (IFSWF).
The GAPP purpose is to identify a framework of generally accepted principles and practices that properly reflect appropriate governance and accountability arrangements as well as the conduct of investment practices by SWFs on a prudent and sound basis.
In accordance with GAPP 24 SOFAZ has published its first self assessment report on its adherence to these Principles and intends to review it on an annual basis.
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