Gaz Ukrainy selects Grant Thornton to audit 2011-13 IFRS reports
KYIV. Oct 4 (Interfax) - Gaz Ukrainy, a subsidiary of Ukraine's national oil and gas company Naftogaz Ukrainy, has selected Kyiv-based LLC Grant Thornton Legis to audit the company's financial statements to International Financial Reporting Standards (IFRS) for 2011-2013.
According to an announcement posted by Gaz Ukrainy on the State Procurements web portal, October 26 is the deadline for the two parties to sign the contract.
Grant Thornton Legis is requesting UAH 2.43 million (with VAT) for its auditing services, which it will perform by May 2014. The company will also execute several other auditing procedures for Gaz Ukrainy.
Established in 2007, Gaz Ukrainy previously sold natural gas to industrial consumers and municipal energy enterprises. During Naftogaz Ukrainy's reorganization, several alternatives regarding the fate of Gaz Ukrainy were considered. This August, the Ukrainian Energy and Coal Ministry decided to reorganize Gaz Ukrainy into a public joint-stock company called Sintez - Gaz Ukrainy, the process of which is not yet complete.
Sintez - Gaz Ukrainy will oversee projects to convert Ukrainian heat generation facilities to the use of coal-water fuel, as well as to build three plants for gasifying brown and black coal in the Luhansk, Donetsk and Odessa regions using Shell technology tested in China.
Grant Thornton is one of the leading international networks merging independent companies that offer auditing and consulting services.
The official exchange rate on October 4 was UAH 7.993/$1.
