The Accounting Chamber found understatement of financial assets by UAH 16.5 billion in the State Public Fund
The audit of the State Property Fund (PSF) revealed that in its consolidated financial statements, the amount of long-term financial investments and equity was understated by almost 16.5 billion hryvnias. About this reported Accounting Chamber.
The reason was the failure to take into account the financial indicators of enterprises that are in the sphere of management of the Fund. This was the reason for the auditors to issue a negative opinion.
“It is not about embezzlement, not about losses caused to the state, or signs of fraud, but about deviations in accounting.” – emphasized the member of the Accounting Chamber Hennadiy Plis.
The Accounting Chamber approved the report on the results of the financial audit of the State Property Fund of Ukraine for 2024. The control measure was headed by Gennady Plis. This is the first financial audit of the FSMU, which was conducted according to international standards. During the inspection, it was established that the Fund did not prepare and submit to the Ministry of Finance and the Ministry of Economy consolidated financial statements for more than two thousand state-owned enterprises under its supervision.
Among the significant shortcomings, it was also found that the revaluation of fixed assets in one of the groups was carried out at different times, which negatively affected the completeness and reliability of information display in the financial statements of the Fund and its controlled entities.
“Currently, the reporting reflects the assets of the same group, valued according to different approaches: overvalued and not overvalued. For example, the regional branch of the Federal State University for the Vinnytsia and Khmelnytskyi regions revalued a building located in Vinnytsia by UAH 15.6 million, while the multi-story building of the Federal State University in the center of Kyiv was valued at one hryvnia.” – concluded Gennadiy Plis.
