REUTERS
It's the board, top managers and supervisory councils in particular who bear responsibility for the negative financial performance at SOEs.
Ukrainian Prime Minister Denys Shmyhal says the SBU Security Service of Ukraine is conducting a probe following the audit of NJSC Naftogaz of Ukraine conducted by the State Audit Service, the results of which will be made public upon completion.
"Indeed, an audit was carried out. There are results of the State Audit Service. The results are negative. We have already seen some in the media, but incorrect materials were presented there. The SBU is conducting a corresponding investigation following the audit, the results will be made public," Shmyhal told Ukraine 24 TV channel.
The prime minister said the board, top managers and, in particular, supervisory councils would bear responsibility for the negative results in the financial statements of state-owned companies.
"Responsibility is borne by the board and top managers. All this is spelled out in the charters. And all those who may conditionally be responsible of some violations are easy to identify and point out their responsibility. And they can't say: 'We got a call from the Cabinet… this was politically justified move...' These enterprises are independent economic actors," Shmyhal said.
Background
In early October, a report of the State Audit Service was leaked to the media, which stated that according to the results of the audit at NJSC Naftogaz of Ukraine for the period from October 1, 2018 to December 31, 2019, financial losses to the state budget amounted to UAH 75.5 billion (US$2.7 billion).
Adviser to NJSC Naftogaz CEO's Olena Zerkal said the company had postponed eurobond placement amid the investors' reaction to negative news from Ukraine related to the publication of Naftogaz audit data.