External audit of financial statements
External auditor selection
The procedure for an audit organization selection is performed in accordance with the Procedure for an audit organization selection for Sovereign Wealth Fund joint-stock company and organizations, where more than fifty percent of voting shares are directly or indirectly owned by Samruk-Kazyna JSC on the right of ownership or trust management, adopted by the resolution of the Management Board of Samruk-Kazyna JSC of September 10, 2013 (Minutes No.49/13).
List of evaluation criteria:
- Approach to the services rendering.
- Competence of the project team.
- Quality of services.
- Severity of intent and reputation.
- Working hours and cost of services
- Additional benefits and services.
- Verbal presentation and suggestions.
Information on the auditor organization
In accordance with the Procedure of an audit organization selection for Samruk-Kazyna SWF JSC and organizations, where more than fifty percent of the voting shares belong to Samruk-Kazyna JSC, directly or indirectly, under ownership or trust management, the Unified Commission for the group of companies of KTZ NC JSC including for Transtelecom JSC, determined the audit organization - Deloitte LLP for a period of 3 years, from 2016 to 2018.
Deloitte company in Kazakhstan is part of Deloitte CIS Holdings Limited, a member of Deloitte Touche Tohmatsu Limited.
Deloitte's branches are open in 9 CIS countries, and Georgia and Ukraine, where they employ more than 3,300 employees. Branches in Kazakhstan are open in 4 cities: Almaty, Astana, Atyrau and Aktau. In the Kazakhstan market, Deloitte provides a full range of professional services, including audit, tax, legal and consulting services, risk management services, and corporate finance advice. Deloitte is a leading international company that provides professional services to public and private sector companies in various industries. Deloitte uses extensive industry knowledge and long-lasting practical experience of its specialists in customers services from any industry in more than 150 countries. Cross- functional groups, which include leading market experts, closely monitor the latest developments and trends in industries and provide an expert perspective on their potential impact.
Independent Auditor's Report
According to the external auditor - Deloitte LLP, the consolidated financial statements present fairly, in all material respects, the financial position of Transtelecom JSC as of December 31, 2017, as well as its financial results and cash flows for the year 2017 in accordance with International Financial Reporting Standards reporting.