FBK to Render Advisory Services to System Operator UES

FBK won two competitions held by System Operator of Unified Energy System of Russia (SO UES) and was selected to carry out the advisory projects on the preparation of consolidated financial statements in accordance with IFRS and actuarial valuation of long-term liabilities of the Company for three years (2014, 2015 и 2016).

The experts of FBK International Financial Reporting and Assurance Department over the next three years will provide annual consultations to the Company on the preparation of consolidated reporting in accordance with IFRS as well as carry out the valuation of SO UES long-term liabilities on the pension and social programs for the purposes of preparing the annual financial statements for 2014 – 2016.

According to the project managers Yuri Saprykin (consolidated financial statements) and Maria Chaus (actuarial valuation), their implementation will allow full use of FBK industry experience accumulated through the cooperation with and provision of advisory services to a whole range of major generating and power grid companies.

Open Joint Stock Company System Operator of Unified Energy System (JSC SO UES) is a specialized organization solely carrying out the centralized dispatch and operation control in the Unified Energy System of Russia.

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