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  • Ukrenergo has formed a regulatory platform for the compliance office operatio

    Ukrenergo currently finalizes the preparation of a full-fledged launch of the compliance office. Yesterday, KPMG presented the company with a complete package of documents in this direction:

    • Compliance policy
    • Corporate ethics code
    • Compliance risks management provisions
    • Compliance standards subject to operation specifics of the TSO
    • “Road map” of the Compliance Office
    • Provisions on the procedure for reporting denunciators
    • Compliance Officer service instructions, etc.

    Compliance is an important risk management and control instrument. It allows management to identify and alleviate the risks of corruption, violation of law, conflict of interest, non-compliance with standards and norms and is important for successful integration into ENTSO-E.

    Work on the creation of a European model compliance office began in Ukrenergo almost a year ago. The project’s consultants were the KPMG and the Belgian company Elia Grid International. The main guide for Ukrenergo’s compliance policy are the international standards of the Organisation for Economic Co-operation and Development (OECD), which are the key to the efficient, transparent and responsible operation of public sector enterprises. The package of regulatory documents was based on the results of the GAP-analysis, a study that revealed strategic differences between the current state of affairs and the internationally identified best practices in the area of ​​compliance.

    In the near future, a package of documents of compliance office will be submitted to the Supervisory Board of Ukrenergo.

    “One of the goals of Ukrenergo is transparency and efficiency of activities on its way to integration with ENTSO-E. We consistently implement the best international practices in the work of the company and focus on the expertise of the world’s leading TSOs. After completing the creation of the compliance office, our next step is the development and integration of the company’s risk management system,” said Vsevolod Kovalchuk, CEO of Ukrenergo.

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