OREANDA-NEWS. March 17, 2010. VolgaTelecom is inviting audit entities to tender for the right to conclude the contract for mandatory audit of the Company's RAS accounting (financial) statement for 2010 and IFRS consolidated financial statements for 2010.

The bids for the tender are accepted in sealed envelopes with the note “Auditor tender. Bid.” before 5 p.m. of March 19, 2010 at the address: OJSC VolgaTelecom, Dom Svyazi, M.Gorky Square, Nizhny Novgorod, 603000.

Mandatory audit of RAS accounting (financial) statement is to be conducted in 2 stages: stage I – audit of the statements for 9 months of 2010 – before December 20, 2010; stage II – audit of the statements for 2010 – before March 30, 2011. The audit of IFRS consolidated financial statements is to be conducted by the auditor in one stage before May 20, 2011.

The tender will be held on April 16, 2010 in Moscow. The contract with the tender winner is concluded subject to its approval as the Company’s auditor by annual general meeting of shareholders.