OREANDA-NEWS. April 09, 2012. Within the framework of completion of audit of consolidated financial statements prepared in accordance with IFRS for the 12 months of 2011, a meeting of IDGC of the North-West, JSC management with executives of KPMG, CJSC auditor company took place.

Today, on April 4, 2012, within the framework of completion of audit of consolidated financial statements prepared in accordance with IFRS for the 12 months of 2011, a meeting of IDGC of the North-West, JSC management with executives of KPMG, CJSC auditor company took place.

At the meeting one discussed issues related to the results of IDGC of the North-West, activities in 2011 and prospective development for 2012 2013. IDGC of the North-West management gave an estimate of the risks that may affect the Company’s activities.

IDGC of the North-West plans to obtain auditor’s opinion of 2011 statements as per IFRS during the current week. Adoption of an automated system (ACS IFRS) has promoted reduction of the time required for statements preparation, the system providing for maintenance of parallel accounting and preparation of consolidated financial statements of IDGC of the North-West and subsidiary companies of the latter in accordance with the International Financial Reporting Standards.

On April 9, 2012 IDGC of the North-West plans to arrange a telephone conference dedicated to issue of 2011 statements as per IFRS.