Audit of Ukrenergo: how the company's management violated financial discipline by billions.

According to inkorr.com: The State Audit Office of Ukraine completed the audit of the financial activities of PJSC 'NЕК 'Ukrenergo' for the period from 2018 to June 2022. Auditors focused on the work of the company under the leadership of Volodymyr Kudrytskyi and his predecessors.

The audit findings revealed serious violations of financial discipline, unmet contractual obligations, and inadequate control by officials.

Key points of the audit

1. Agreement with LLC 'United Energy' – in the amount of over 1.6 billion hryvnias

According to auditors, 'Ukrenergo' was unable to utilize a bank guarantee of 1.85 billion hryvnias by June 30, 2022, thus violating the agreement.

Moreover, it was found that the company did not comply with regulatory requirements, which allowed 'United Energy' to continue its activities despite the existence of a default.

2. Tender with LLC 'Vision Rich' and the bank guarantee from 'Concord Bank'

Failure to fulfill the agreement with the contractor led to legal proceedings. Delays in 'Ukrenergo's' response threatened the loss of state funds.

3. Other violations of financial discipline

During the audit, deficiencies in accounting, insufficient control over procurement, and risks of asset loss due to untimely debt collection were also identified.

Persons responsible for finances

Among those responsible for the company's financial matters are Volodymyr Kudrytskyi, Oleksii Skrypnyk, and senior executives.

Auditors' conclusion

The auditors noted that the identified violations and deficiencies in the activities of 'NЕК 'Ukrenergo' pose a risk of ineffective use of state funds and loss of assets. Officials failed to ensure control over the conclusion and execution of agreements in the company.

The results of the State Audit Office's inspection of Ukraine for the period from 2018 to June 2022 revealed significant problems in the financial activities of 'NЕК Ukrenergo'. In Ukraine, these conclusions highlight the importance of transparency and accountability in state-owned companies, as the identified violations may negatively affect the use of state funds and overall financial stability. This issue requires urgent response from the current management of the company to rectify the situation and strengthen control over financial processes.