A report on results of audit of financial and economic activities of the largest state-owned companies underway

On Friday, March 18, at an extraordinary meeting of the Government a number of authorities such as the Ministry of Economic Development and Trade, the State Audit Service, the State Property Fund, the State Fiscal Service report on financial and economic activities as a result of an audit of major Ukrainian state-owned companies carried out on commission of the Prime Minister of Ukraine Arseniy Yatsenyuk.

The Head of Government accentuated that the audit was launched with an aim to set things in order at the Ukrainian state-owned companies, "to find out who is working effectively, and who is not".

"We have instructed all state-owned enterprises to hire international auditors to confirm financial reports. We ordered all state companies to allow the State Audit Service conduct verification", he stressed.

The Prime Minister reminded that the Government had cardinally changed the system of remuneration for employees of state companies.

Following the report, the Government “will make a decision on how these state-owned companies will further work and, most importantly, with whom these state-owned companies will work", stressed Arseniy Yatsenyuk, recalling that several months ago the Cabinet of Ministers had decided that CEOs of state-owned companies must be appointed by an independent Nomination Committee.