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Information on FBK Moscow · 2011.

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1 Information on FBK Moscow · 2011

2 FBK Founded in 1990 One of the leading audit and consulting companies
Recognized throughout the world A member of PKF International Ltd. Diploma of RA Expert in nomination “Market Leader in terms of Volume of Business” (2009)

3 FBK – a member of PKF International Limited
PKF International (PKFI) is a network of legally independent member firms The 10th largest global accountancy network in (according to International Accounting Bulletin January 2011) Representation in around 125 countries Over 245 Member and Correspondent firms located in over 400 offices Founded in 1969 Over 17, 600 staff employed by PKF International Member firms PKF International Ltd is a member of the Forum of Firms within the International Federation of Certified Accountants (IFAC) President of FBK Sergey Shapiguzov is a member of PKFI European, Middle East and India Regional Board

4 FBK (PKF) – International company
Experts with ACCA, CPA qualification Our methods and techniques meet international standards and market requirements Joint projects with the Big Four Working with the western market entry projects (IPO, bonds) Working with international investment companies Working with international rating agencies Large-scale IFRS projects

5 FBK (PKF) – International company
At the moment FBK is a leading Russian company in terms of quality of projects implemented for international organizations. Over 250 projects so far. We are working on different projects financed by: UNESCO TACIS DFID CIDA IBRD EBRD

6 Partners working under FBK brand
FBK –Povolzhje (Kazan, Republic of Tatarstan) FBK Yuzhny Ural (Zlatoust, Chelyabinsk region) FBK Bel (Minsk, Belarus)

7 FBK in regions Cooperation agreement:
DSS Consulting (Saint-Petersburg) ARKO Audit (Novosibirsk) Ekaterinburg Audit Center (Ekaterinburg) SAPA Audit (Almaty, Republic of Kazakhstan) Auditinform (Kurgan) Blackstone Capital (Astana, Republic of Kazakhstan) Mak Alyans Audit (Tashkent, Republic of Uzbekistan) Realization of joint projects: Expert-Auditor (Ryazan) Etalon (Cheboksary) Prioritet (Yaroslavl)

8 FBK is a diversified company
FBK audit company FBK Consulting Economic and law school FBK (ELS FBK) FBK-Legal Moscow Bar Personnel consulting agency «FBK-Personnel»

9 Advantages in competition
Impeccable business reputation Experience in working with the companies which are up to the world standards Quality of our services recognized by business leaders A variety of professional services Known as influential think tank, enlightener and educational centre Unique methods and techniques

10 Advantages in competition
High skilled experts proficient in different areas of professional services Combination of professional expertise and range of skills required to understand related objectives and problems Cumulative and integrated practical experience Working techniques enhancing project efficiency Support from auditors, accountants, appraisers etc.

11 Mission FBK mission is far beyond professional service delivery — we are seeking to contribute in market-oriented economy in Russia in every possible way.

12 FBK – one of the leading companies in terms of implementing international projects
FBK Company often takes part in important projects supporting reforms of government administration and national economy. The most considerable of them are as follows: TACIS Project “Administrative Reform 2. Government Civil Service Reform” jointly with DFID Project “Administrative Reform”; TACIS Project “Accounting Reform in Russian Federation III” (in consortium with PricewaterhouseCoopers); Project “Development of Strategy for Russian Enterprise Support in Transition towards IFRS (in consortium with International Centre for Accounting reform (ICAR)); TACIS Projects in Russia: “Russian Audit Reform”, “Insolvency Phase II: Efficiency of Insolvency Procedures”, “Supporting Public Service Reform (Administrative Reform 2)”; “Comprehensive Financial Review of the Pension Fund of the Russian Federation” (jointly with Ernst & Young); The Program of Federal Railway Transport Structural Reform; “The RF Treasury System Modernization” (jointly with IBS); DFID-financed “Technical Assistance to Russian Regional Finance Reform” (the Department for International Development, UK); Project for International air transport association (IATA) to bring Russian standards of Air-Tickets’ form in correspondence with the international requirements; Elaboration of solutions for building at the RF Ministry for Finance the system of evaluation and monitoring of subnational projects of Eurasian Development Bank (in consortium with KPMG).

13 FBK has unique experience in working with the leading companies of Russian economy
FBK has been successfully working with leading Russian and international companies in strategic industries for over 16 years. FBK’s clients include Gazprom, Rosneft, Rosneftegaz, Gazprom Neft, Transneft, ALROSA, Russian Railways, leading companies in the electricity generating industry (FSK, OGK 1, OGK 3, TGK 2, TGK 10, IDGC Holding, IDGC of the Center, IDGC of the Ural, IDGC of the North-West, IDGC of the South, IDGC Volga etc.), EVRAZ Group, Novolipetsk Metallurgical Works, OMC, Magnitogorsk Metallurgical Works, Olimpstroy, Deposit Insurance Agency, Rustechnologies, Sovcomflot, RUSNANO, and many others. More than 350 projects have been implemented for GAZPROM and its subsidiaries since 1996.

14 FBK takes part in the process of economic and governmental administration reform
High qualification and great practical experience of our experts allow FBK participate in the main projects of economic reform in Russia. Services are elaborated considering practice of effective business development and specifics of public sphere that allows our clients to overcome any possible hurdles of the reform. FBK implemented projects for the following Governmental Offices The RF Presidential Executive Office, The RF Government Executive Office, Accounts Chamber of the Russian Federation, Ministry of Finance of the Russian Federation, Federal Service of Financial and Budgetary Oversight, Federal Treasury, Federal Tax Service, Ministry of Economic Development of the Russian Federation, Ministry of Agriculture of the Russian Federation, Ministry of Health and Social Development of the Russian Federation, Federal Labor and Employment Service etc., Regional Public Authorities of Republic of Bashkortostan, Komi Republic, Republic of Tatarstan, Chuvash Republic, Udmurtian Republic, Astrakhan Region, Vologda Region, Irkutsk Region, Nizhny Novgorod Region, Novgorod Region, Tver Region, Chelyabinsk Region and other RF constituent entities.

15 Membership of recognized national and international organizations
FBK Company is a member of: PKF International Limited (www.pkf.com); Non-Commercial Partnership “The Audit Chamber of Russia” (NP APR) (www.new.aprussia.ru); Association of Russian Banks (www.arb.ru); Association of Regional Banks of Russia “Rossiya” (www.asros.ru); Association of Managers of Russia (www.amr.ru); The Russian Union of Industrialists and Entrepreneurs (www.rspp.ru). Since 2002 FBK has been a member of Non-commercial partnership Partnership for Supporting Valuation Companies Accredited by the Russian Appraisers Association and is actively engaged in activities of professional associations of appraisers. ELS FBK is a member of Russian Association of Business Education (RABE) (www.rabe.ru)

16 FBK’s organizational structure and services
Department Area 1. The General Audit Department Audit services (except fuel-and-energy, metallurgical enterprises and financial institutions); Audit-related bookkeeping and tax accounting advisory services. 2. The Energy Audit Department Audit services to enterprises operating in the fuel-and-energy sector; 3. The Metallurgical Entities Audit Department Audit services to metallurgical enterprises; 4. The Audit and Consulting Services to Financial Institutions Department Audit services to financial institutions; 5. The International Financial Reporting Department Audit of IFRS-compliant financial statements. 6. The Insurance Audit Department Audit services to insurance companies; Audit-related bookkeeping and tax accounting advisory services Audit Services

17 FBK’s organizational structure and services
CОNTINUE Department Area 1. The Financial Consulting Department Diagnostics of business and financial performance; Conduct of pre-investment studies (Due Diligence); Reorganization of holding structures; Marketing research; Cost management. The Audit and Consulting Services to Financial Institutions Department Financial consulting for banks and financial institutions: Analysis of company investment attractiveness; Analysis of credit organization’s assets; Analysis of net assets; Financial and economic analysis of company activity; Formation of a business-plan within development of certain services. 2. The Management Consulting Department Elaboration of business development strategies; Building management system on the basis of KPI or BSC; Establishment of management accounting and budgeting systems; Development and expertise of business plans, feasibility studies, investment memoranda; Optimization of organizational structure and management system; Optimization and re-engineering of business processes; Development of personnel motivation system. Consultations on the Effective Counteracting Legalization (Money Laundering) of Proceeds from Crime and Terrorism Financing; Operational audit and optimization of business processes for banks and financial institutions; Implementation and support of the automated software assessing borrower’s credit risks (ASOKR); Management consulting for banks and financial institutions: Consulting services in the field of management of capital; Elaboration of development strategy and definition of strategic indicators; Development of management system for a credit organization; Arrangement of internal control system; Analysis and development of financial organizations’ internal documents; Optimization of organizational structure; Support of registration procedures for financial organizations; Analysis and development of management accounting systems; Risk management services, analysis and risk map generation. Consulting Services

18 FBK’s organizational structure and services
CОNTINUE Department Area 3 The Corporate Management System Department IT-consulting. Advisory in the field of building corporate management system; Implementation of SAP business applications; Implementation of business applications; Implementation of Microsoft business applications; Project solutions, including: Implementation of ERP systems; Implementation of automated budgeting and management system based on KPI; Implementation of automated system for preparing reporting under IFRS; Implementation of automated system for preparing consolidated reporting under RAS and IFRS. 4 The Accounting Advisory Department Modernization of accounting systems and their elements in the framework of implementation of corporate management systems; Elaboration of methodology of reduction of time needed for reporting compilation; Reorganization of accounting function in the framework of restructuring and/or extension of business; Accounting outsourcing, accounting reconstruction; Evaluation of efficiency of organization of accounting function in holdings; Evaluation and enhancement of internal control systems; Advice in accounting and compilation of reporting. Consulting Services

19 FBK’s organizational structure and services
CОNTINUE Department Area 1 The Tax and Legal Department Tax advice; Tax litigation; Corporate practice; Financial investigations; Forensic inquiry. The Audit and Consulting Services to Financial Institutions Department Tax consulting for banks and financial institutions: Tax audit; Arrangement of tax accounting; Development of tax strategy; Consulting in the field of taxes and taxation; Holding of workshops devoted to the urgent issues of tax legislation and tax accounting; Representation of our clients’ interests in court. Tax and Legal Services Department Area 1 The Valuation Department Business valuation; Valuation for IFRS and US GAAP reporting purposes; Intangible assets valuation; Real estate and movable assets valuation; Assets revaluation in compliance with RAS; Construction expertise. Valuation Services

20 FBK’s organizational structure and services
CОNTINUE Department Area 1 The Corporate Finance and Capital Markets Department Corporate finance services, M&A transactions; Consulting support in the field of private offering; Greenfield projects consultancy; Services in the field of project financing, including attracting investments in projects, projects of private public partnership; Capital markets (consulting on minority interest). The Audit and Consulting Services to Financial Institutions Department Support of M&A for banks and financial institutions: Representation of buyers’ or sellers’ interests; Due diligence of companies that are objects of investment; Financial, tax and legal review (due diligence) of purchased financial organizations; Rendering of consulting services aimed at decrease of risks originating during such transactions. Corporate Finance Services M&A Department Area 1 The Public Sector Consulting Department Development of regional development programs; Creation of favorable investment climate Regional finance system reforming; Organization of efficient system for budgeting process management; Transformation of budget reporting into compliance with the international standards. Consulting Services for Public Sector

21 FBK’s organizational structure and services
CОNTINUE Department Area 1 The International Financial Reporting Department IFRS services provided by FBK to the organizations: Development and testing of particular documents, such as IFRS accounting policies, pro forma financial statements, chart of accounts, IFRS disclosure Checklists; Preparation of individual and consolidated financial statements followed by providing all the working documents and files to the client; Preparation of combined IFRS financial statements for the companies under common control followed by providing all the working documents and files to the client; Development of IFRS consolidation packages for the Groups' parent companies; Presentation of IFRS financial statements to auditors, investment banks, rating agencies, creditors, investors and other concerned parties; Appointment of qualified personnel for the purpose of IFRS financial statements preparation (outstaffing). The Audit and Consulting Services to Financial Institutions Department IFRS services provided by FBK to the credit and financial institutions: Organization of seminars and consulting provided to bank personnel on the international standards issues for the purposes of the preparation of financial standards compliant with the international standards ; Services concerned with the transformation of a bank's financial (accounting) statements to IFRS; Implementation of computer-aided system for the preparation of IFRS-compliant statements by the credit organizations (CAS PS); Implementation of computer-aided system for credit risk assessment and valuation for loans by the credit organizations; Outsourcing of the preparation of obligatory reporting compliant with IFRS, Implementation and support of the automated system for drawing of reporting for credit organizations (ASPO). IFRS Services

22 FBK’s organizational structure and services
CОNTINUE Department Area 1 The Audit and Consulting Services to Financial Institutions Department Consultations on evaluation of the effective organization of the bank’s information security system: All-round information security and personal data security ensuring; Information security system testing in accordance to: Federal Law 152-FZ “Of Personal Data” The Bank of Russia Standard (STO BR IBBS-1.0) Information security policy and internal documentation elaboration. Information Security Department Area 1 The Public Sector Consulting Department Services in strategic consulting: Strategic analysis: Macroeconomic research and forecasting; Topic-oriented analytical research; Consultancy on business development strategy; Institutional analysis;     Preparing and conducting expertise of financial and economic feasibility of draft legislations;     Consultancy on issues of regional and municipal development. Strategic Analysis

23 FBK’s organizational structure and services
CОNTINUE Department Area 1 School FBK Key areas of training expertise: Financial management; Accounting and financial reporting; Tax accounting; Taxation and law; Audit; Banking; Information technologies in business management; Strategic analysis and macroeconomic research; International qualifications: DipIFR, IAB. The Audit and Consulting Services to Financial Institutions Department We conduct workshops and trainings aimed at training and consulting of credit institutions’ personnel in drawing of IFRS- compliant reporting, as well as on urgent issues of tax legislation and tax accounting. Business Education

24 Project implementation stages. FBK
Stating the project’s tasks and objectives, determining the form for result delivery; Appointing the project supervisors from company top-managers Appointing quality inspectors out of the lead experts from corresponding profile departments Drawing up the project schedule Determining quantitative and qualitative set of experts, determining data and material resources required Generating the project’s budget Implementing the project, providing current control by project managers and supervisors Recording the results, further control by quality inspectors and project supervisors, engaging experts from the standing Committees if needed Updating project results Presenting results to the Client

25 Client Servicing Philosophy
The FBK management cares deeply about ensuring required and adequate guarantees to our customers. Our company therefore observes statutory requirements and restrictions laid down by current Russian legislation and International Standards on Auditing, as well as the performance criteria of professional associations and our own corporate standards. The company also strictly observes professional principles of ethics in everyday operations. Independence. FBK is an independent company. We have adopted instructions and standards ensuring staff independence in delivering our professional services. Our audit and consulting businesses are separated from each other organizationally. Integrity, impartiality. Our lack of affiliation guarantees our customers an impartial, unbiased and independent approach when addressing all professional issues, making judgments and reaching conclusions. Confidentiality. FBK strictly follows the principle of confidentiality. Our security service and internal information storage and protection system enabled FBK to obtain a license to work with state and government secrets and secure repeated extensions of the license.

26 Client servicing philosophy Independence
CОNTINUE FBK is an independent company both in terms of structure of its participants and in terms of personnel. FBK has adopted instructions and standards ensuring staff independence in delivering professional services. Our audit and consulting businesses are separated from each other organizationally. Requirements towards FBK’s employee in terms of maintaining independence and criteria confirming independence of employee are governed by regulatory documents related to audit activity as well as international and domestic ethical codes of auditors. Every year all FBK’s employees: Fill in the receipt, confirming independence from FBK clients, which list is maintained in Lotus Notes database, available for the employees; Provide data on changes in employee’s independence from LLC FBK clients. Every year all LLC FBK partners: Fill in the receipt, confirming independence from FBK’s clients; Provide data on changes in their independence from FBK’s clients.

27 Client servicing philosophy Honesty, objectivity, professional behavior norms
CОNTINUE Objectivity principle imposes on the auditors an obligation to be impartial, have professional honesty and not to have conflicts of interests when performing professional duties. In our activity we strictly observe all requirements of the current legislation and the controlling bodies. We avoid any activities that may harm our reputation and discredit us as professionals. At least once a year all auditors and experts fill in the set forms confirming that they observe FBK’s requirements and procedures in terms of principles of honesty, objectivity and provisions of professional behavior. Auditors and experts are completely liable for correct nature of data they provide.

28 Client servicing philosophy Professional competence
CОNTINUE FBK was incorporated by employees of Accounting and Audit Chair of Department of Economics of Moscow State University. And still, leading Russian higher education establishments remain the Company’s source of manpower. At the moment, among FBK staff there are: 2 Doctors of Sciences; 25 Candidates of Sciences (Ph.D equivalent); 117 Certified Auditors; 48 professionals with ACCA diplomas(DipIFR); 32 professionals with IAB diplomas; 27 IAB certified specialists; 11 Certified Professional Accountants

29 Client servicing philosophy Confidentiality
CОNTINUE FBK strictly follows the principle of confidentiality Our security service and internal information storage and protection system made it possible for FBK to obtain a license for working with state and government secrets and secure repeated extensions of the license. Confidentiality requirements are contained in confidentiality agreements, signed with each employee when he/she gets employed. Within its activity FBK has been observing confidentiality requirements in terms of data received from the auditees in the process of audit and the accompanying services. Before the Law On Commercial Secret was enacted, the company had necessary documents developed on this issue. When the above law became effective, a corresponding Provision on Commercial Secret was developed, that was timely added and amended under the renewed legislation. It is mandatorily introduced to FBK’s employees.

30 Quality Control over Audit
The purpose of quality control is to improve and to standardize audit services’ quality and to decrease audit risk through control within the audit and through independent control Control over audit engagement execution during audit is performed by auditor-in-charge who is responsible for audit, its quality and work of all audit group members, as well as conducts preliminary, ongoing and subsequent control over his/her group’s work. Control is carried out at all audit stages, preliminary, ongoing and subsequent. Independent control over audit quality is conducted by quality inspector, who does not directly participate in execution of audit engagement. The given control provides independent assessment of due conclusions, which the group preparation of an audit report is based on.

31 The ongoing control over audit includes:
Arrangement of Quality Control Over Audit Engagement Execution Control by Auditor-in-charge CОNTINUE Auditor-in-charge ’s responsibility is strictly defined and notified to the auditor- in-charge him/herself within corresponding intra-company instruction. The identity and responsibility of auditor-in-charge are notified to the key managers of the client. The ongoing control over audit includes: Inspection of audit group members in terms of professional skills necessary for execution of entrusted work; Inspection of comprehension of audit’s aims and objectives; Compliance of audit with audit’s general plan and program; Revelation of accounting and audit material problems within the given inspection; evaluation of these problems and corrective measures under the authorities of general plan and audit program; Recording of audit; Achievement of audit procedures’ aim; Making of decision within the limits of one’s authorities should there is no opportunity for unambiguous determination of auditor’s operations procedures, or making of decision on the necessity to consult.

32 Arrangement of Quality Control Over Audit Engagement Execution Control by Quality Inspector
CОNTINUE Quality Inspectors are appointed from FBK’s employees who have the necessary qualification. The necessary qualification means availability of required experience and authority suitable for objective assessment of material estimations made by audit group members in audit engagement and conclusions that are the basis for audit report. Independent control over audit planning, execution of audit procedures and preparation of final documents is executed during audits.

33 The objective of monitoring is to provide assessment to:
Arrangement of Quality Control Over Audit Engagement Execution Monitoring Audit Quality Control System CОNTINUE Monitoring quality control system functioning takes place in FBK minimum once a year in order to determine its suitability and efficiency to provide audit quality. The objective of monitoring is to provide assessment to: FBK’s activities compliance with professional standards and legislative requirements; Correctness of development and efficiency of current quality control system; Correct application of procedures and policy of LLC FBK quality control, i.e. to provide evaluation of audit reports confirming their appropriateness in the given circumstances. Monitoring is conducted by employees of department for methodology (hereinafter – quality control group), i.e. independent employees who did not participate in audit, who are not liable for its results, and who are not quality control inspectors within the corresponding departments. Quality control group is liable for its actions and reports before the audit partner and LLC FBK Board of Partners.

34 Limit of Liability Under Federal law On audit activity N307-FZ and the applicable regulations (standards) for audit activity approved by Commission for audit activity under the President of the Russian Federation, audit company is liable for poor quality execution of audits. Property liability of FBK in the form of reimbursement of damage caused to clients and the third parties by execution of professional audit activity by FBK emerges if an error is made by FBK in the process of execution of its professional obligations under the contract. Considering the fact that audit activity is admittedly of risk nature, FBK insures its professional auditor’s liability. Under insurance policy and Regulations for insurance of professional auditors’ activity, the object of insurance is FBK’s proprietary interests related to its obligation to reimburse damage caused to the clients and the third parties (affected) under the procedure set by legislation.

35 Limit of Liability CОNTINUE Insured accident is an emerging obligation of the insured party to reimburse damage caused to property interests of the beneficiary due to errors, unintentionally made by the insured party (employees of the insured party) in the course of execution of insured professional activities Hence property liability of FBK is determined under procedure defined by civil legislation of the Russian Federation on the basis of reasonable civil legal claim or court’s decision entered into effect. Usually when providing audit services the parties to the contract conclude agreements on limitation of liability and procedure for use of such limitation. Risks of FBK audit activity are insured in Insurance joint-stock company Ingosstrakh. The amount of insurance coverage is 15,000,000 USD.

36 FBK’s Major Clients Gazprom ROSNEFT Oil Company Russian Railways
Rating position Expert-400 rating 2010 Years of service 1. 1 Gazprom 14 years (1996 – date) 2. 3 ROSNEFT Oil Company 3. 4 Russian Railways 10 years (1998, 2001 – date) 4. 5 Sberbank of Russia 1 year ( ) 5. 7 JSFC Sistema 4 years (2006 – date) 6. 9 MRSK Holding 2 years (2008 – date) 7. 11 VTB Bank 8. 13 Transneft 10 years (2000 – date) 9. 15 EvrazGroup 10. 19 Svyaz’invest Group 11. 21 Gazprombank 6 years ( date) 12. 22 Novolipetsk metallurgical works 13. 23 Rosenergoatom Concern 4 years (2004, 2005, 2006, 2008)

37 FBK’s Major Clients Mechel SIBUR Holding
Rating position Expert-400 rating 2010 Years of service 14. 24 Mechel 6 years (2001, 2003 —2008) 15. 27 SIBUR Holding 4 years (2003 — 2006, 2008) 16. 28 Magnitogorsk Iron and Steel Works 3 years (2005 — 2008) 17. 29 TAIF Group 3 years (2005, 2006, date) 18. 31 MetalloInvest 9 years (2000— 2008, date) 19. 32 SUEK 3 years (2004, 2005, 2008) 20. 42 RusHydro 2 years (2008, 2010) 21. 44 United Metallurgical Company 3 years (2007 —date) 22. 48 AlfaBank Group 7 years (2001, 2004— date) 23. 49 AvtoVaz Group 6 years (1999, 2001—2004, 2008, 2009) 24. 50 Protek Group 7 years (2004 —2011)

38 Experience of providing services to MCC EuroChem and to its structure's enterprises
Audited period MCC EuroChem and its subsidiaries MCC EuroChem 2003*, 2004*, 2006*, 2008, 2009, 2010 Nevinnomyssky Azot NAK Azot 2003*, 2004*, 2008, 2009, 2010 EuroChem – Belorechenskie Minudobrenia Kovdorsky Mining-and-Processing Integrated Works Phosphorit Industrial Group Agrosphera 2003*, 2004* EuroChem VolgaKaly 2008, 2009, 2010 * Tax audit

39 References and recommendations of clients
ALROSA Alrosa has been closely cooperating with your company in terms of accounting, economy, optimization of taxation for over 10 years now. Due to high professional level of your specialists in the field of audit and accounting, taxation and law, property evaluation, analysis of economic activity, we implemented projects that were of high importance for company’s economy. You company has played a special role in formation of financial statements. Certification provided by World bank in terms of audit of profitable projects, that this large-scale company implements in Russia, is of special pride for the company. Alrosa highly appreciates the investment of your company within our cooperation and hopes for strengthening and continuation of joint projects.

40 References and recommendations of clients
OAO GAZPROM Since 1996, within years of successful cooperation in the field of professional services, FBK has become a reliable partner for Gazprom. In these years OAO Gazprom and its affiliates used services of specialists from various departments of FBK. Under contracts with Gazprom and its affiliates, FBK specialists have conducted over 300 projects. Consulting, legal and audit services provided by FBK, are of constant high professional level. OAO Gazprom is planning to continue its cooperation with FBK, the audit and consulting company, and can recommend FBK as highly professional and reliable partner.

41 References and recommendations of clients
EASTLINE Representative office of Airport Management Company Limited expresses its thanks to you and company employees for highly professional and effective audit support of EAST LINE activity in the previous year. Due to your consultations and help of your employees we were able to improve quality of EAST LINE group’s financial statements. We hope for further cooperation between our organizations.

42 References and recommendations of clients
ISOVER Herewith we confirm that LLC FBK has been providing audit and consulting services to Saint-Gobain Isover RUSSIA group of companies since 1996. For the whole period of cooperation with LLC FBK, we were able to make ourselves sure in efficiency and high quality of services provided by this company. LLC FBK conducts audits and provides consulting services in the field of accounting, taxation and law. A peculiarity of company’s work is complex approach to solving of tasks, efficiency of professional services and high level of specialists. We would like to note that LLC FBK is distinguished with operational flexibility and high quality of consulting services on the most complicated issues both in the field of accounting, taxation and law. Saint-Gobain Isover RUSSIA is planning to continue its cooperation with LLC FBK, audit and consulting company and recommends it as a reliable business partner.

43 References and recommendations of clients
PARMALAT Since 1999, FBK has been providing audit and consulting services to OOO Parmalat MK. For the whole period of cooperation with FBK were had an opportunity to assure in efficiency and high quality of company’s services. Under contracts with OOO Parmalat MK, FBK specialists provide the next services: Audit of financial statements; In the field of accounting, legal and tax consulting; In the field of representation of interests in tax disputes in tax bodies and in court. Considering our multi-year experience of cooperation with FBK, we recommend it as highly professional and reliable partner.

44 References and recommendations of clients
SC OLIMPSTROY FBK has been rendering audit and consulting services for SC Olimpstroy since 2008. Distinctive aspects of work of FBK are comprehensive approach to solution of tasks set by SC Olimpstroy, effectiveness of professional services and proficiency of FBK experts. It ought to be noted that that responsiveness and high quality of consulting services rendered with regard to complicated issues of accounting, taxation and law distinguish FBK. SC Olimpstroy recommends FBK as a reliable business partner. Chief accountant Karmanova V.A.

45 References and recommendations of clients
EVRAZ GROUP This letter is to confirm that FBK has been rendering audit and consulting services to metallurgical and mining entities of Evraz Group since 2005. In our cooperation with FBK we satisfied ourselves of efficiency and high quality of services of this company. We would like to note comprehensive approach to task solution and high proficiency of FBK specialists. We plan to continue our cooperation with FBK and recommend the company as a reliable business partner. Senior Vice-President of Corporate Development Tatyanin P.S.

46 References and recommendations of clients
NOVOLIPETSKY METALLURGICAL PLANT This letter is to confirm that FBK has been rendering audit and consulting services to companies of NLMK Group since 2004. In our cooperation with FBK we satisfied ourselves of efficiency and high quality of services of this company. FBK experts show high proficiency and apply comprehensive approach in task solution. We plant to develop further cooperation with audit and consulting company FBK and recommend it as a reliable business partner. Chief accountant Sokolov A.A.

47 References and recommendations of clients
UNITED METALLURGICAL COMPANY This letter is to express our gratitude for high quality of audit and consulting services, provided by your company. We would especially like to note high professional level of FBK auditors when conducting audit of CJSC OMK affiliates, notably of OJSC Vyksa Metallurgical Plant. We hope for future mutually rewarding cooperation. Director of Economy and Finance CJSC OMK Shkhiyants Y.I.

48 References and recommendations of clients
IBS Group of Companies FBK have been providing audit and consulting services to IBS Group of Companies in accounting, tax and law since Cooperating with our companies for over 10 years FBK have proved to be a team of professionals capable of solving tasks of any complexity on high professional level. FBK employees showed themselves as proficient, stirring professionals, broadminded, considerate and friendly towards client. FBK care not only for continuous professional development of their specialists, but also for raising the level of skills of employees of financial and accounting departments of their clients, arranging seminars and providing resource materials. IBS Group of Companies plan to continue working with FBK under a wide range of projects. We would like to express our profound satisfaction with results of our cooperation and recommend FBK as reliable business partner. Financial Director of IBS Group of Companies Yukhadi Y.V.

49 References and recommendations of clients
Rosoboronexport State Corporation FBK have been providing audit and consulting services to Rosoboronexport State Corporation since Throughout this period of time FBK have been rendering audit services, including services for statutory audit of annual accounting (financial) statements as well as accounting advisory, tax and legal advice. For the whole period of cooperation with LLC FBK, we have been able to ascertain in efficiency and high quality of services provided by this company. Characteristic of company’s work is complex approach to solving tasks, efficiency of professional services and high level of specialists. Cooperation with FBK delivers considerable practical use for our company. Rosoboronexport State Corporation recommend FBK as reliable business partner. Chief Accountant — Head of Accounting Department Zavyalova L.I.

50 Public and Charitable activities
For years FBK has been the general consultant of Pushkin Museum of Fine Arts, has been acting as a partner in projects of worldwide charity movement World stars to children, has been providing assistance to international charity fund Children of Russia. Various public and charity activities are the essential part of our corporate culture.

51 Thank you for your attention!
FBK 44/1, Myasnitskaya Str. Moscow, Russia, Tel.: Fax:


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