External audit

External audit of KEGOC financial statements from 1997 to 2021 was conducted by the following audit organisations:

1997 – 1998: Arthur Andersen & Co

1999: KPMG Audi" LLP

2001: Ernst & Young LLP

2002 – 2011: Deloitte LLP

2012 – 2020: Ernst & Young LLP

Since 2021 to the present: RSM Qazaqstan LLP

RSM Qazaqstan LLP is one of the leading audit and consulting organisations in Kazakhstan. RSM Qazaqstan is a member of RSM International, which is the 6th largest global network of firms (5th largest in the USA, just after the "Big Four"), providing services in the areas of audit, taxation, and consulting.

RSM International and its member firms are full members of the Forum of Firms of the International Federation of Accountants (IFAC).

RSM Qazaqstan holds the following accreditations:

  • Accreditation by the Kazakhstan Stock Exchange (hereinafter referred to as KASE) as a recognised auditing organisation – Level 1.
  • Accreditation by Samruk-Kazyna JSC as an auditing organisation included in the list of qualified suppliers of the holding.
  • Accreditation by the European Bank for Reconstruction and Development (hereinafter referred to as EBRD) as a recognised service provider for projects financed by the EBRD.
  • Accreditation by the International Finance Corporation (hereinafter referred to as IFC) as a recognised service provider for projects financed by the IFC.
  • Accreditation by the European Union (hereinafter referred to as EU) as a recognised service provider for projects financed by the EU.

The procurement of audit services from RSM Qazaqstan LLP was carried out in accordance with Appendix 13 to the Procedure for procurement by Samruk-Kazyna Sovereign Wealth Fund JSC and legal entities, fifty percent or more of the voting shares (participation interests) of which are directly or indirectly owned by Samruk-Kazyna under ownership or trust management, approved by the Minutes of the in-person meeting of the Board of Directors of Samruk-Kazyna No. 193 dated 3 March 2022, and the decision of the Annual General Meeting of Shareholders of KEGOC (minutes No. 35 dated 2 May 2024).

The current audit services contract is valid for 2024, with the contract value amounting to KZT 45,855,043.36 (forty-five million eight hundred fifty-five thousand forty-three tenge and thirty-six tiyn), including VAT.

During the specified period, RSM Qazaqstan LLP has not provided non-audit services to KEGOC.

 


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