FinExpertiza carried out an audit of more than 150 companies of one of the biggest oil holding groups situated all over Russia during four years.
Electrical power engineering and fuel-energy complex
The role of fuel-energy complex and electrical power engineering in modern Russia is hard to overestimate. At the same time companies operating in this industry face the following problems:
- tear and wear of major funds of fuel-energy complex (in electrical power engineering and natural gas industry – almost 60 per cent, in oil refining industry - 80 per cent);
- reduction in investment activities (for the last five years the volume of investments in fuel-energy complex amounted to about 60 per cent of the volume provided for by the Power System Strategy of Russia for the period until 2020);
- cutback in budget financing;
- discrepancy between the production potential of the fuel-energy complex and the level of development of science and technology in the world including ecological standards.
We have been working for over 15 years with companies of oil and gas and electrical power industries assisting companies with solving important issues.
FinExpertiza experts take part in the work of trade (industry) Committees of oil and gas industry and electrical power industry of the Accounting methodological centre assisting in development of federal, industry standards, interpretations and explanations of certain issues of accounting and tax legislation.
Starting from 2008 one of the biggest suppliers of petroleum gas in the Russian market has been among our permanent clients that we do IFRS auditing for.
We provided advice on transfer pricing issues to one of the biggest electric companies in the world and in Russia that transmits and distributes electric energy all over the territory of Russia.
The company carried out an audit and evaluation of costs on production sharing agreement "Sakhalin-2".
We developed standards and policies for the leader of the Russian oil industry and one of the biggest public oil and gas companies in the world with respect to transfer of the accounting function to a shared services centre.
For three years FinExpertiza carried out a RAS audit of a dynamically developing vertically integrated oil company that was formed on the basis of the biggest fuel and energy companies of the Republic of Bashkortostan.
- Inter RAO
- SIBUR Holding