Dubai EXPO 2020: Thermal Power Plants JSC and KPMG discussed prospects for cooperation

    Investments 17 February 2022 1198

    As part of the Dubai EXPO 2020 international exhibition, Thermal Power Plants JSC and KPMG audit Company (USA, part of the Big four group of companies in the world) held talks on the implementation of promising projects.

    Chairman of the Management Board of JSC "Thermal Power Plants" (JSC "TPP") Farkhod Abdurakhmanov and Head of KPMG CIS Vasily Savin discussed the issues of accelerating the transformation of public procurement in JSC "TPP" and ensuring the transition to international financial reporting standards.

    The main goal of the work carried out in this direction is to obtain international credit ratings and implement major investment projects by increasing the financial attractiveness of the company.

    It should be noted that so far KPMG has submitted the final audit report on the audit of the procurement system in the joint-stock company and its enterprises based on the analysis of "forenzik". As a result, a joint action plan for its effective implementation was developed.

    In this regard, KPMG has completed the valuation of the company's assets based on international standards at real value.

    According to the press service of JSC "Thermal Power Plants", now, together with KPMG, work is underway to develop a short- and long-term development strategy and financial model through the development of corporate governance of the company in the following areas:

    • strategic planning support;
    • support for the implementation of financial reporting in accordance with IFRS (International Financial Reporting Standards);
    • support for strengthening the compliance function;
    • improving the information disclosure system;
    • improving the learning and evaluation process;
    • implementation of the principles of gender equality and development of detailed recommendations on the main areas of gender activity.