OREANDA-NEWS. July 20, 2009. This is what Tatyana Maximova, Chief Accountant of the united company, told the mass media at a press conference.

Today IDGC of North-West had a presentation and a pres conference on the basis of the results of the 2008 financial reporting prepared under the international standards with participation of the top managers of the united company.

The following people took part in the press conference: the journalists of the leading information agencies: PRIME TASS, Interfax, Ros Business Consulting, Reuters, etc and the partners of IDGC of North-West, KPMG JSC – the representatives of one of the leading companies that provides auditor services to largest Russian and international companies of the grid sector.

“IDGC of North-West was the first among the interregional network companies of IDGC Holding to prepare the 2008 financial accounting under the IFRS and present it publicly for the shareholders, investors, business society and mass media”, said Tatyana Maximova, Chief Accountant of the company.

According to the company’s managers, preparation of reporting under the international standards will, no doubt, help IDGC of North-West to expand its possibilities to conclude long-term and large contracts, will help to attract credit capital and the capital of the shareholders both  in the nearest and in the far future and will provide new instruments of the company’s management.

“We will not only continue working in this direction, but will also develop the mechanisms of its execution. The next year we plan to present the 2009  financial accounting under the IFRS two months earlier, i.e.,  on 1 May”, said Tatyana Maximova. “IDGC of North-West will publish its reporting for 2010 and future years on 30 March. Starting from 2012, we plan to publish a quarterly reporting under the IFRS within thirty days from the end of though period.

IDGC of North-West plans to attract KPMG JSC as the main consultant and auditor for preparation of the reporting under the IFRS. KPMG JSC renders services to 85% of the largest world companies among FT Global 500.