On Amendments to the Civil Code of the Republic of Azerbaijan, the Tax Code of the Republic of Azerbaijan, the Housing Code of the Republic of Azerbaijan and the Customs Code of the Republic of Azerbaijan, signed by the President of the Republic of Azerbaijan Mr. Ilham Aliyev on May 3, 2019 and effective from May 24, 2019 "According to Article 1.3 of the Law of the Republic of Azerbaijan, the words" (except for micro and small entrepreneurship subjects) "after the words" society "have been added to the first sentence of Article 91.4 of the Civil Code of the Republic of Azerbaijan.According to the previous version of Article 91.4 of the Civil Code, the limited liability company had to involve an independent auditor every year to verify the accuracy of the annual financial report (external audit).Otherwise, this circumstance was considered as forced evasion from the case and resulted in an administrative penalty under Article 464 of the Code of Administrative Offenses of the Republic of Azerbaijan. According to the same Article of the TPC, the officials are fined in the amount of 300 to 600 manats, legal entities from 1,500 to 2 500 manats for the refusal to compulsory audit to be carried out in the cases provided by the Law of the Republic of Azerbaijan "On auditor services".According to Article 2 of the Law on Audit Service, it is obligatory for the economic entities to publish their financial statements according to the law, as well as the audit, to be carried out in the cases provided for by law.In this case, the norm of the law obligating the audit is Article 91.4 of the Civil Code and a new amendment to this article excludes the subject of micro and small entrepreneurship from this mandatory audit.Thus, the requirement of compulsory audit required by law today will apply not only to all limited liability societies but also to medium and large entrepreneurship entities. In other words, subjects of micro and small entrepreneurship are exempt from involvement of an independent auditor (external audit) annually for the purpose mentioned above.