The Audit Organization is responsible for:

1. Audit and Statutory Examination

   • Statutory examination and audit of those corporations fully owned by State.
   • Statutory examination and audit of those corporations whose 50% or more of their equity belongs to ministries, government organizations and state owned corporations.
   • Statutory examination and audit of Islamic Revolutionary Foundations subject to the approval of their general meeting or highest authority, and those corporations whose management are appointed by Government.
   • Statutory examination and audit of subsidiaries of banks, non-government public sector entities, Islamic Revolutionary Foundations and those entities whose management are appointed by government subject to the approval of their general meetings
   • Audit of capital projects (national development plans) and other fixed assets construction projects (such as buy back contracts) of entities mentioned in a and b above.
   • Operational audit of corporations and capital projects with adequate materiality, sensitivity and high volume of activities proposed by Minister of Economic Affairs and Finance and approved by the Audit Organization’s Board of Governors.
   • Audit of those cases referred to by Minister of Economic Affairs and Finance.
   • Statutory examination and audit of other corporations, where possible.

2. Financial and Management Consultancy Services

   • Financial and management consultancy services to ministries, state owned corporations and other entities mentioned in 1(a-d) above.
   • Design and implementation of financial systems and rendering financial and management services to other entities.

3. Setting Accounting and Auditing Standards

   • In consultation with Iranian Association of Certified Public Accountants and other professional and regulatory bodies, setting and publishing the following standards:
     • Accounting Standards
     • Auditing Standards
     • Code of Professional Ethics
     • Guidelines for the above mentioned.
   • Code of professional ethics for Audit Organization's personnel in line with Islamic rule.

4. Training, Research and Publications

   • Study and research to obtain necessary and up-to-date information in the fields of accounting, auditing and other related subjects.
   • Continual publication of the results of studies to enhance accounting and auditing specialized knowledge
   • Cooperation with government organizations, universities, educational institutions and other relevant establishments to foster accounting and auditing work force.
   • Train and educate Organization's personnel through continuing educational programs.