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Audit

The information about the external auditor of JSC NK KTZ

1. Name of the audit firm

Deloitte LLP has been auditor of KTZ NC JSC since 2006. According to para. 15 of section VII of the policy of “Kazakhstan Temir Zholy” National Company“ JSC in engaging audit firms for the services, approved by the decision of the Board of Directors of KTZ NC JSC dated 19 November 2013 (Minute No.11), the Company (KTZ NC JSC) requires the Auditor to follow the rotation principle of the partner of the project (primary responsible for the audit) at least once every five years.

Alua Yessimbekova, a certified public accountant (CPA) of New Hampshire, USA (qualification certificate No.7348 dated 30 May 2014), is an audit partner for the consolidated and separate financial statements of KTZ NC JSC since 2016. Alua has also been assigned as the audit partner for the consolidated and separate financial statements for 2019-2020.

Previously, the audit partners of were Tatyana Gutova, a certified auditor of the Republic of Kazakshtan (qualification certificate No.0000314 dated 23 December 1996) and Alexander Dorofeyev, a member of the Association of Chartered Certified Accountants (ACCA), Great Britain (qualification certificate No.643568 dated 22 April 1999).


 

2.     The remuneration of the external auditor

 Period

Audit Volume

Remuneration, exclusive of VAT, tenge

2011

Audit of the annual and semi-annual review of individual and consolidated financial statements

55 351 482

2012

Audit of the annual and semi-annual review of individual and consolidated financial statements

55 351 483

2013

Audit of the annual and semi-annual review of individual and consolidated financial statements

55 351 483

2014

Audit of the annual and semi-annual review of individual and consolidated financial statements

48 696 311

2015

Audit of the annual and semi-annual review of individual and consolidated financial statements

48 696 311

2016

Audit of the annual and semi-annual review of individual and consolidated

72 937 760

2017

Audit of the annual and semi-annual review of individual and consolidated

67 228 000

2018

Audit of the annual and semi-annual review of individual and consolidated

69 451 200

3. Non-audit services provided by the external auditor

During 2019, Deloitte firm rendered services to the subsidiary of KTZ NC JSC related to the update of the financial model for compilation of proforma consolidated financial statements and calculation of forecasted financial covenants for the group of companies of KTZ NC JSC. The amount of remuneration amounted to 1,566,000 Russian rubles (~9,396,000 tenge), including VAT.