Business news from Ukraine

UKRAINE HIRES DELOITTE & TOUCHE TO AUDIT STATE-RUN NAFTOGAZ

The Cabinet of Ministers of Ukraine will conduct an audit of the financial statements of NJSC Naftogaz Ukrainy, MP Oleksiy Honcharenko has said.
He posted a photocopy of a government resolution on his Facebook page that says that at its meeting on Wednesday, the Cabinet approved the appointment of Deloitte & Touche Ukrainian Services Company (USC) as a subject of auditing activities to provide services of the mandatory audit of financial reporting.

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BAKER TILLY UKRAINE TO AUDIT STATE CONCERN UKROBORONPROM

Baker Tilly Ukraine LLC from the Baker Tilly international audit network, has won a tender to select an auditor of consolidated statements of the Ukroboronprom state concern.
According to the ProZorro platform, where the auction was held on Thursday, Baker Tilly initially offered UAH 29.988 million for its services, while Ernst & Young LLC, its only rival, offered UAH 32.5 million, which corresponded to the starting price, and the total price amounted to UAH 29.336 million.
“This will be the first consolidated audit of the concern in the entire history of its existence,” the Ukroboronprom said in a statement.
The state concern said that earlier international audits were carried out only at individual enterprises –members of the concern. In particular, Baker Tilly Ukraine has already conducted an independent financial audit of the state-owned company for the export and import of military and special-purpose products and services Ukrspecexport, which is the largest Ukrainian special exporter and part of the Ukroboronprom group of companies.
Ukroboronprom recalled that the search for an auditor has been ongoing since 2017 and was unlocked in the summer of 2019, when Ukrainian President Volodymyr Zelensky reshuffled the concern’s supervisory board.

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66 ENTERPRISES TO PASS ENERGY EFFICIENCY AUDIT UNDER GERMAN GIZ PROJECT

Some 66 enterprises have been selected to participate in the Energy Efficiency Project of GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH) and Economic Development and Trade Ministry of Ukraine. “A total of 66 enterprises have already been selected, which will receive technical support to identify and implement pilot energy efficiency projects,” First Deputy Economic Development and Trade Minister Maksym Nefyodov wrote.
According to him, among them 19 enterprises of the baking industry, 15 – from the dairy sector, 19 – machine building, as well as 11 enterprises for the production of nonmetallic building materials and two enterprises from other industries.
The list includes, among others, Kyivkhlib, Kyivsky BKK, Kupiansk Canned Milk Factory, Kaniv branch of the Cheese Club, Starokostiantynivsky Dairy Plant, Zhytomyr Butter Plant, EthnoProduct, JV Vitmark-Ukraine, Galca Ltd, Dnipropolymermash, Corum Druzhkivka Machine-Building Plant, Kharkiv Machine-Building Plant FED, IC Pozhmashina, Umanfermmash and OLIS.
In addition, the Kharkiv Tile Factory, Kerameya, the Kyiv Combine of the Construction Industry, the two branches of the SBK, the Tavriya Construction Company, the Temp Plant and the Zhytomyr Roofing and Insulating Materials Plant were selected.
Chairman of the State Agency for Energy Efficiency and Energy Saving Serhiy Savchuk said, commenting on the project on the agency’s website, that as part of the implementation of the Energy Efficiency Directive 2012/27/EU, one of the articles of which foreseen energy efficiency audit for large enterprises once in four years or the switch to the energy efficiency management, a bill on energy efficiency has been drawn up.
According to a posting on the website of GIZ, the project to advice enterprises in the energy efficiency sphere was started in 2017 and will last until 2021. GIZ said that the energy efficiency potential, especially for small- and medium-sized enterprises, is 30-50%.

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