FBK to Audit SC Olympstroy for 2014

The specialists of FBK General Audit Department began implementing the project on the audit of financial statements of Olympstroy – the State Corporation for Construction of Olympic Venues and Sochi Development as Alpine Resort (SC Olympstroy) - for 2014.

According to Anastasia Ivanova, FBK General Audit Department deputy director heading the projects, owing to the legislation the reporting of SC Olympstroy is somewhat broader than usual; it is supplemented with a number of non-standard but approved by the Ministry of Finance of Russian forms of reporting. Moreover, the specifics of operation of the Corporation and the auditor’s high responsibility for the quality of their work make this project even more complex.

“We are familiar with the specific characteristics of the Company operation, the specifics of accounting and keeping records of SC Olympstroy as we audited the Corporation financial statements for some previous years, specifically for 2013. We expect to succeed with the project this time, too,” says Anastasia Ivanova.

SC "Olympstroy" was created in 2007 to coordinate design and construction works on the objects of the XXII Winter Olympics in Sochi, attracting private and public investment in the development of Sochi as a year-round Alpine resort. The completion of SC "Olympstroy" activity is scheduled for 2015.

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