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Russian authorities decline PriceWaterhouseCoopers on gas project
AFP
MOSCOW
Petroleumworld.com 04 13 07
Russian authorities announced Thursday they would no longer contract with PriceWaterhouseCoopers (PwC) for the annual audit of the giant gas project Sakhaline-2, a news agency said.
A report from Energy Minister Viktor Khristenko said PwC's work was considered "unsatisfactory in view of constant remarks made about the presentation of auditing reports and reimbursable costs," Interfax news agency reported.
Last month, a Russian court fined PwC 16.8 million rubles (484,000 euros, 645,000 dollars) for its role in tax evasion by bankrupt oil group Yukos in 2002-2004. The company had pledged to appeal the decision.
The case was brought against PwC by the Russian revenue service last December and involved allegations that PwC had drawn up two versions of the Yukos 2002 accounts: one for shareholders and another for management.
The firm also lost one of its largest Russian clients recently, leading car manufacturer Avtovaz.
Gazprom gas giant has said it will continue to work with PwC, which also has contracts with Russia's central bank and national electricity monopoly SEU.
AFP 12 2145 GMT 04 07
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