KEGOC's financial statements were externally audited from 1997 to 2021 by the following auditing organisations
1997 – 1998, Arthur Andersen & Co.
1999, KPMG Audit LLP
2001, Ernst & Young LLP
2002 – 2011, Deloitte LLP
2012 – 2020, Ernst & Young LLP
from 2021 to the present, RSM Qazaqstan LLP
RSM Qazaqstan LLP is one of the leading audit and consulting organizations in Kazakhstan. RSM Qazaqstan is a member of RSM International, which is the 6th largest international network of firms (5th in the US, just behind the Big Four) providing audit, tax and consulting services.
RSM International and its member firms are full members of the Forum of Firms of the International Federation of Accountants (IFAC).
RSM Qazaqstan has:
· Accreditation by the Kazakhstan Stock Exchange (KASE) as a recognised audit firm - Level 1.
· Accredited by Samruk-Kazyna as an audit organisation included in the list of qualified suppliers of the holding company.
· Accreditation by the European Bank for Reconstruction and Development (hereinafter referred to as EBRD) as a recognised service provider for EBRD-financed projects.
· Accreditation by the International Finance Corporation (hereinafter referred to as IFC) as a recognised service provider for IFC-financed projects.
· Accredited by the European Union (hereinafter referred to as EU) as a recognised service provider for IFC-funded projects.
The audit services were procured from RSM Qazaqstan LLP in accordance with the Procurement Management Standard for Samruk-Kazyna Sovereign Wealth Fund Joint-Stock Company and organizations fifty and more percent of voting shares (participatory interest) of which are directly or indirectly owned by Samruk-Kazyna on the right of ownership or trust management and the Rules for selection of an audit organization for Samruk-Kazyna and organizations, more than fifty percent of the voting shares (participatory interest) of which directly or indirectly belong to Samruk-Kazyna on the right of ownership or trust management, approved by the Management Board of Samruk-Kazyna (Minutes No. 46/16 dated 27 December 2016), based on paragraph 3 of Article 11-1 of the Procedure for Procurement by Samruk-Kazyna Sovereign Wealth Fund Joint-Stock Company and organizations fifty and more percent of voting shares (participatory interest) of which are directly or indirectly owned by Samruk-Kazyna on the right of ownership or trust management, approved by the decision of Samruk-Kazyna Board of Directors (Minutes No.161 dated 3 July 2019), and by the Extraordinary General Meeting of KEGOC Shareholders (Minutes No.22 dated 31 May 2021)
The current contract for procurement of audit services is effective from 2021 to 2023, and the amount of remuneration under the contract is KZT 116,226,209 (one hundred and sixteen million two hundred and twenty-six thousand two hundred and nine tenge) inclusive of VAT.
RSM Qazaqstan LLP has not provided non-audit services to KEGOC during this period.
