14 Apr 2010 10:17

PwC the winner once again in tender for Gazprom auditor; fee reduced 7%

MOSCOW. April 14 (Interfax) - CJSC PricewaterhouseCoopers Audit has once again won the tender to conduct the annual audit of Gazprom in 2010, the gas giant reported.

PwC won with a bid of $7.25 million, compared with the maximum contract size of $8 million. PwC received $7.8 million to conduct the audit last year.

PwC will audit RAS financials for the lead company and for the consolidated group as well as the consolidated IFRS financials.

PwC has conducted Gazprom's audits every year since 1995. Nonetheless, the annual tender for the job attracts bids from many auditing companies.

The latest tender received bids from eight companies, including PwC, CJSC Petro-Balt-Audit, CJSC Prima Audit, CJSC MKD, Ernst and Young LLC, FBK LLC, CJSC BDO and CJSC KPMG.

Shareholders will confirm Gazprom's auditor at the annual meeting on June 25.