Government approves independent auditor to review financial statements of Naftogaz

Government approves independent auditor to review financial statements of Naftogaz

Following the results of the auction conducted within the ProZorro system, the Cabinet of Ministers of Ukraine has appointed PricewaterhouseCoopers (Audit) LLC (PwC) as an auditing entity that will conduct a mandatory audit of the financial statements of NJSC Naftogaz of Ukraine for 2021-2022. years.

The relevant decision was approved at a meeting of the Cabinet of Ministers on April 14, Ukrinform reports with reference to the press service of Naftogaz.

The cost of services under the contract will amount to UAH 54,154,000. Two other Big Four companies, Deloitte and Ernst & Young, also participated in the auction.

According to the terms of the tender, all bidders had to meet the qualification criteria, in particular, to have a sufficient staff of experts, experience in providing similar services and the necessary material and technical resources.

Under the terms of the tender, PwC will audit the consolidated and stand-alone financial statements for 2021 and 2022, prepared in accordance with International Financial Reporting Standards (IFRS). In addition, the main tasks also include a review of interim stand-alone and consolidated reporting and services to support issuance of Eurobonds.

The consolidated financial statements cover the financial statements of Naftogaz and about 30 companies of the Naftogaz Group, including JSC Ukrgasvydobuvannya, JSC Ukrtransnafta, JSC Ukrtransgaz, PJSC UKRNAFTA, etc.


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