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27 April

STATE AUDIT CONFIRMS – THE STATE ENTERPRISE CAN SUCCEED

The State Audit Service of Ukraine was conducting the financial audit of Boryspil International Airport performance for the period of 2013-2016 during the first quarter of 2017.

In accordance with the business and financial performance analysis for years 2013-2016, the State Enterprise had no economic growth and was unprofitable till year 2015. Yet, in 2015-2016 due to the intensive development, the Airport has achieved reasonable economic growth. The Airport revenues and efficiency increase were proved once again. The State audit mentioned major over-fulfilment of the Enterprise Development Strategic Plan for years 2015-2019.

Along with that, the auditors drew attention of some other state enterprises on the necessity of solving all the issues concerning their cooperation with Boryspil Airport:

- Delays on the leasing issues consideration by the state authorities,

- Renewal of some regulatory acts concerning the Airport business operation,

- Delays concerning the agreement of the Airport financial plans,

- Insufficient response of the authorities to the Airport request concerning the unfair counteragents` violations.

The State auditors also noted that Boryspil International Airport State Enterprise implemented effective managing methods, reasonable internal regulations and control procedures.

According to the audit report, that "offered a chance to provide stable and efficient state enterprise operation, follow the business and financial policy, secure, use assets effectively and economically, eradicate the falsifications and avoid mistakes, apply accurate financial report".

The Auditors also recommended the Airport to settle the contraversial issues concerning some agreements concluded in 2012-2013 and to make a final decision on the availability of Terminal "B" and "F" usage.



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