Goznak Becomes New FBK Client

FBK has won an open tender to provide services to Goznak, a large Russian company engaged in security printing.

FBK will perform actuarial valuation of pension and other long-term liabilities related to pension and other long-term employee benefits under International Financial Reporting Standards.

“We have gained an extensive experience in actuarial valuation for IFRS reporting purposes. Our actuaries work with companies from various industries and we expect to continue growing,” said Askold Birin, FBK Partner and Director of International Financial Reporting and Assurance.

Today Goznak is a central production site uniting all stages of banknote production, starting with papermaking and up to its designing and printing. Goznak has the annual capacity to produce up to 11,000 tons of security banknote paper, 7 billion banknotes, 5 billion coins, up to 40 million passports and 30 – 45 million postage stamps.