KZTO 784,44 (+0,31%)
Shares of KazTransOil JSC (KASE) 784,44 (+0,31%)
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Information about the auditor

Policy of “KazTransOil” JSC on attracting services of audit organization (Download | View in new window)
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AUDIT SERVICES OF FINANCIAL STATEMENTS

In order to confirm the reliability of the financial statements KazTransOil JSC engages an independent auditing firm.

Current Auditor - Ernst & Young LLP.

Based on the decision of the General Meeting of Shareholders of KazTransOil JSC dated March 5, 2019, the Company entered into an agreement for the provision of services for the audit of financial statements for the years 2019-2021 with Ernst & Young LLP.

From 2002 to 2018 the external audit services of the financial statements of KazTransOil JSC were rendered by audit firms, such as:
  • 2002-2006 - Ernst & Young Kazakhstan LLP;
  • 2007 - PricewaterhouseCoopers LLP;
  • 2008-2018 - Ernst & Young Kazakhstan LLP.
The amount of remuneration for the audit services of financial statements - in accordance with the specified agreement for the total amount of 253,018,594.08 Tenge including VAT, the amount of the annual remuneration paid including VAT to the audit firm for the audit services of financial statements of 2019, 2020 and 2021 years is equal to 81,599,217.28 Tenge, 84,328,800.64 Tenge, 87,090,576.16 Tenge, respectively.

The list of services with respect to the audit of financial statements and related services rendered by the external auditor in accordance with the agreement above:
  • The review of the interim condensed consolidated financial statements of the Client in accordance with ISRE 2410, for the period from January 1 to March 31 of each fiscal year between 2019 and 2021, prepared in accordance with IAS 34, with the provision of the review report;
  • The review of the interim condensed separate financial statements of the Client in accordance with ISRE 2410, for the period from January 1 to June 30 of each fiscal year during the period from 2019 to 2021, prepared in accordance with IAS 34, with the provision of the review report or audit of the separate financial statements of the Client, prepared in accordance with IFRS, for the period from January 1 to June 30 of each financial year during the period from 2019 to 2021, with the provision of an audit report;
  • The confirmation of the consolidated financial statements of the Client in the «Financial Consolidation» system for the period from January 1 to June 30 of each fiscal year during the period from 2019 to 2021, prepared in accordance with the corporate accounting policy of the group of companies KazMunaiGas JSC NC, with the provision of the special purpose audit report;
  • The review of the special purpose interim condensed consolidated financial statements of the Client in accordance with ISRE 2410 for the period from January 1 to June 30 of each fiscal year during the period from 2019 to 2021, prepared in accordance with the corporate accounting policy of the group of companies KazMunaiGas JSC NC, with the provision of the review report;
  • The review of the interim condensed consolidated financial statements of the Client in accordance with ISRE 2410 for the period from January 1 to June 30 of each fiscal year during the period from 2019 to 2021, prepared in accordance with IAS 34, with the provision of the review report or audit of the consolidated financial statements of the Client, prepared in accordance with IFRS, for the period from January 1 to June 30 of each financial year during the period from 2019 to 2021, with the provision of an audit report;
  • The review of the interim condensed consolidated financial statements of the Client in accordance with ISRE 2410 for the period from January 1 to September 30 of each fiscal year during the period from 2019 and 2021, prepared in accordance with IAS 34, with the provision of the review report or audit of the separate and consolidated financial statements of the Client, prepared in accordance with IFRS, for the period from January 1 to September 30 of each financial year during the period from 2019 to 2021, with the provision of an audit report;
  • Carrying out the interim audit procedures for the period from January 1 to September 30 of each fiscal year during the period from 2019 to 2021 of the separate and consolidated financial statements of the Client with the presentation of the results to the members of the Internal Audit Committee of the Board of Directors and/or to the Client's management;
  • The confirmation of the consolidated financial statements of the Client in the «Financial Consolidation» system for the period from January 1 to December 31 of each fiscal year during the period from 2019 to 2021, prepared in accordance with the corporate accounting policy of the group of companies KazMunaiGas JSC NC, with the provision of the special purpose audit report;
  • Audit of the separate and consolidated annual financial statements of the Client, prepared in accordance with IFRS for the period from January 1 to December 31 of each fiscal year during the period from 2019 to 2021 with the purpose of expressing an independent opinion on the reliability of preparation of the financial statements in accordance with IFRS in all material respects, with the provision of the audit report;
  • Audit of the special purpose annual consolidated financial statements of the Client, prepared in accordance with the corporate accounting policy of the group of companies KazMunaiGas JSC NC, for the period from January 1 to December 31 of each fiscal year during the period from 2019 to 2021 with the purpose of expressing an independent opinion on the reliability of preparation of the financial statements in accordance with IFRS in all material respects, with the provision of the audit report;
  • Audit of the separate and consolidated annual financial statements of the Client, prepared in accordance with the list and forms approved by the normative act of the authorized state body of the Republic of Kazakhstan under the Law of the Republic of Kazakhstan «On Accounting and Financial Reporting», for the period from January 1 to December 31 of each fiscal year during the period from 2019 to 2021, with the provision of the audit report.

Other services provided by the external auditor

In 2010-2019, the external auditor did not render other services unrelated to the audit of the financial statements except for the following:
  • In 2012, the external auditor (Ernst & Young LLP) rendered services for the agreed-upon procedures with respect to financial information - «Letter of Guarantee» on the Information Circular related to the share placing of KazTransOil JSC on Kazakhstan Stock Exchange JSC on the amount of 23,520,000 Tenge (including VAT).

The Company does not have any obligation to provide interested persons the documents legally translated into English or any other language. Documents posted on the website in English, are not legal translation.

Site users must use the translated documents only to get an idea about the content of the Company approved documents placed on the website in Kazakh and / or Russian.

The Company shall not be held responsible for the correctness of the findings of the person concerned as to the correctness and completeness of the translation of documents into English, as well as conclusions on the rights of the person concerned and / or obligations of the Company, made on the basis of the documents posted on the website in English.
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