Transneft Selects Auditor

KPMG has won the tender on selecting an auditor for a compulsory auditing of Transneft for the year 2003, Transneft said in its official statement. KPMG has been approved by the Board of Directors of Transneft. The winner is to be approved at the annual shareholders' meeting of Transneft. The previous auditor of the company was PricewaterhouseCoopers.

KPMG is one of the largest audit and consulting companies. Last year its revenues were $10.72bn. KPMG has been working in Russia since 1990. The Russian subsidiary of KPMG was established in 1992. The major part of its employees are Russian specialists.

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