FBK Completed a Consulting Project for Russian Grids

The FBK specialists of the International Financial Reporting and Assurance and the Valuation departments completed a comprehensive project for the Russian Grids during which they provided consultations to the Rosseti Group parent company and subsidiaries in regard to IFRS, carried out the actuarial evaluation of the company’s pension liabilities and the impairment test for reporting purposes.

“The implemented project is unique in terms of some parameters. Firstly, we have designed and applied in practice the methods of testing for impairment the assets of power grid companies. Secondly, as of today, FBK is the only consulting company out of those working in Russia, whose specialists carried out the impairment tests at such a range – and we performed the tests in all the branches of the Russian Grids – 66 companies - at the same time,” added Alexander Matyushin, FBK Valuation Associate Director.

According to Polina Sungurova, FBK International Financial Reporting and Assurance Associate Director, the Company has been Consultant for the Russian Grids and individual sub-holding companies of the Group since 2008. “Regardless of the large scope of tasks and deadlines we face our team has confirmed once again the ability to find resources for increasing the intensity of our work,” she added.


Open joint-stock company Russian Grids (Rosseti) is a power circuit operator in Russia. It is one of the world largest power grid companies.

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