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One of the concern's main tasks is to audit its activities, the official said.
Ukraine's state-run Ukroboronprom concern says former Minister of Economic Development and Trade of Ukraine Aivaras Abromavičius has been appointed Chairman of its Supervisory Board.
"I believe Ukroboronprom has made several successful steps in the field of reform over the past few years. But at the same time, some other Ukrainian state-owned companies have done more in this regard. Therefore, we have many tasks that we must perform as quickly as possible. And the audit of Ukroboronprom is one of the top priorities among them," the concern's press service quoted Abromavičius as saying following his appointment at a meeting of the Supervisory Board on July 12.
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Given the limited funds allocated by the Cabinet of Ministers of Ukraine, the Supervisory Board has decided to conduct an international audit of the financial activities by the concern's enterprises in 2018-2019.
"A new position on the procurement of services will be created at the ProZorro e-procurement platform to select an auditor. The winning bidder will be determined according to the open bidding procedure. Chairman of the Supervisory Board Abromavičius will head the tender committee for international audit," the press service added.
According to Abromavičius, the winning bidder that will start the audit of Ukroboronprom may be selected as early as September.
"According to our estimates, it [the audit] will last six-nine months. This will allow getting detailed information on the real state of affairs at each enterprise of the concern. At the same time, we are not able to conduct an audit that will cover a longer period. First, if we take for analysis the period from 2014, not to mention the one from 2011, the results of this audit will have to be expected for years. Secondly, UAH 32.5 million [US$1.3 million] allocated by the government is not enough to this end," he said, according to the press service.
Abromavičius added after the results of the financial audit were received, the procedure for conducting a strategic audit and an audit of corporate governance would be initiated. It will be proposed that the relevant costs be provided for in the draft national budget for 2020.
The composition of Ukroboronprom's Supervisory Board is as follows: Aivaras Abromavičius, Anthony Tether, David Arakhamia, and Andriy Zahorodniuk. One more post of the Board member under the Cabinet's quota is vacant for the time being.
UNIAN memo. Ukraine's state-run Ukroboronprom concern was established in 2010 to ensure the effective operation and management of state-run economic entities involved in the development, manufacture, sale, repair, modernization and disposal of weapons, military and special equipment, and ammunition. Ukroboronprom incorporates over a hundred enterprises of Ukraine's military industrial complex.