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  • Ukrenergo launched the establishment of a Compliance Office

    SE NPC Ukrenergo initiated measures to establish its own compliance office, which will help to avoid risks related to non-compliance with standards, rules or requirements of the current legislation. This decision was approved in view of the transformations currently taking place in the company in connection with the corporate governance reform aimed at enhancing transparency and compliance with the best European experience in internal control, ethics and anti-corruption.

    For this purpose, on 24 July 2018, SE NPC Ukrenergo signed a contract for rendering services on the implementation and development of compliance with KPMG Ukraine, which provides audit, tax, legal and consulting services. KPMG has to analyse the existing gaps in the company’s processes, elaborate compliance policies and other relevant internal documents in accordance with the best European practices, action plans for the company, etc. When developing the documents, an emphasis will be placed on the specific compliance standards that apply to the operation of TSO. To this end, KPMG in Ukraine will attract one of the German transmission system operators as a consultant.

    “Ukraine seeks to become part of the European community, and Ukrenergo is working to integrate the IPS of Ukraine into the European power system. Under such circumstances, we cannot tolerate any doubts regarding our transparency. Therefore, we want Ukrenergo to implement the corporate governance principles approved by the OECD (Organisation for Economic Cooperation and Development), which constitute a standard of effective, transparent and responsible operation of state enterprises at the international level. Establishment of a Compliance Office will help us avoid many mistakes along the way,” said Mykhailo Bno-Airiian, Deputy CEO for Communications and International Cooperation of SE NPC Ukrenergo.

    Moreover, on 2 July 2018, Ukrenergo concluded a contract with the recruitment agency Talent Advisors LLC to search for a compliance officer, who will also perform the obligations of the Commissioner for implementation of the anti-corruption programme. He/she will be responsible for transparency and compliance of all processes in the company with laws and regulations.

    Establishment of a Compliance Office and development of all relevant policies will be finished by the end of 2018.

    KPMG is an international network of independent firms that provide audit, tax and advisory services. The company has been operating in Ukraine since 1992 and provides services in the field of audit, taxation, accounting and financial advisory services to leading domestic and international companies and organisations.

    Talent Advisors LLC provides the services of direct search for top managers since 2008. In January 2017, the company concluded a licensing agreement with Odgers Berndtson and continued its operation under the brand name Odgers Berndtson. Odgers Berndtson Ukraine is part of the international network of Odgers Berndtson and provides the services of direct search for senior executives.

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