audit of debt to Gazprom contradicts international standards – Kommersant
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The head of the board of the Russian-Moldovan gas transportation company Moldovagaz, Vadim Cheban, called the position of the Moldovan authorities, who do not recognize the company’s debt to Gazprom in the amount of $709 million, unfounded. According to him, an audit carried out by the management of Moldova, as a result of which the amount of the debt was reduced to $8, 6 million, contrary to international standards.
“We note that this report from the authorities on a debt of $8.6 million is not a report from the point of view of a classical audit, because it does not comply with international auditing standards. I mean the financial part,” noted Mr. Cheban (quote from the publication Sputnik Moldova). According to him, the report contains many assumptions and subjective opinions, but there is nothing concrete, so it is not possible to take it as a basis when considering the issue of determining the amount of Moldova’s debt to Gazprom.
He emphasized that the topic of historical debts and their restructuring is being discussed at the shareholder level. “Without the decision of the shareholders, this report has no legal force for the Moldovagaz company,” added Vadim Cheban. The largest shareholders of Moldovagaz are Gazprom (50%), the Government of Moldova represented by the Department of Privatization and State Property Management (35.33%) and the administration of unrecognized Transnistria represented by the Property Management Committee (13.44%).
Repayment of the historical debt of Moldova (excluding Transnistria), which Gazprom, together with penalties and fines, estimated at $709 million (the body of the debt is $433 million), was key condition a five-year contract for the supply of 3.3 billion cubic meters concluded in October 2021. m of gas. At the same time, the parties agreed to conduct an external audit of the debt.
Based on the results of an external audit conducted by the Norwegian Wikborg Rein Advokatfirma and the British Forensic Risk Alliance & Co, Moldova announced its readiness to pay only $8.6 million. The US State Department also agreed with the audit results, expressing full support for the Moldovan side. Gazprom did not recognize the audit results and emphasized that the auditor’s report was not approved by the supervisory board of Moldovagaz, as provided for in the agreements.
Read more about the dispute over gas debt in the Kommersant article. “Moldova has forgiven its gas debts.”
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