Ukrainian energy producer DTEK Group has asked KPMG to review its governance structures to reinforce anti-corruption systems and ensure funds and equipment donated to restore energy infrastructure are tracked and traced in line with global best-practice.
Since the beginning of full-scale war in February 2022, DTEK has put in place a strong end-to-end governance, tracking and reporting system for all donor funds and equipment, led by its internal compliance and anti-corruption team.
To enhance transparency of donations, and to avoid any perception of misuse, the company has asked KPMG, the global audit and advisory services firm, to describe the process of distribution of donor assistance, in particular equipment provided to DTEK, technology architecture and relevant controls aimed at mitigating risks arising from the receipt, distribution, accounting and use of technical assistance.
Since the war began, DTEK has received $11m-worth of donor aid and equipment from foreign energy companies.
It has also been promised a further $45.7m via Ukraine’s Ministry of Energy, Energy Community Secretariat and USAID to repair power plants and grid infrastructure.
DTEK already has a rigorous series of anti-corruption safeguards in place.
Today’s agreement gives KPMG the ability to explore these internal processes and provide its overview.
DTEK CEO Maxim Timchenko (pictured) said: “DTEK’s international partners are providing critical support as we work to keep the lights on for homes and businesses through this war.
“DTEK has zero-tolerance for any form of corruption and our work alongside KPMG puts trust at the heart of DTEK’s relationship with donors.”