FBK offered a low price for audit to Gazprom due to the absence of expenditure in foreign currency

​FBK offered a low price for audit to Gazprom due to the absence of expenditure in foreign currency and due to the long-term and successful cooperation with Gazprom, President of FBK, S. Shapiguzov, said.

“FBK has been cooperating with Gazprom from 1996. We have offered the price by 30% lower than that offered by PwC and by 205 lower than the price of Gazprom’s last year audit. There are a number of factors influencing on this price. First, FBK provides services to about 80% of Gazprom’s affiliates, to its largest extraction, processing, gas transportation and service rendering affiliates. We don’t have any expenditure in foreign currency which as a result reflects on the cost of the rendered services”, Mr. Shapiguzov said.

He said that 25 out of 50 largest companies of Russia are the clients of FBK.

FBK won the tender for holding the audit at Gazprom under IAS having requested the amount by 95 mln roubles lower than PricewaterhouseCoopers which previously used to be the auditor of Gazprom under IAS. FBK requested 204 mln roubles, PwC – 298.5 mln roubles, KPMG - 302 mln roubles, Ernst & Young - 318 mln roubles.