Uzbekneftegaz specialists improve their economic knowledge and qualifications at the EY Academy of Business
Tashkent, Uzbekistan (UzDaily.com) -- EY auditing and consulting company contributes to the transformation of the activities of Uzbekneftegaz JSC. These include auditing IFRS consolidated financial statements, improving operational efficiency and providing financial advice on Eurobond placements. Another important aspect of cooperation with this company is the continuous professional development of employees of Uzbekneftegaz JSC.
Recently, 10 professionals improved their economic knowledge and skills at the EY Academy of Business, located in Almaty, Kazakhstan.
The training sessions, organized at the initiative of an international audit company, were attended by employees of the accounting department of the central office of Uzbekneftegaz JSC and the enterprises of the Bukhara Oil Refinery LLC, Shurtan Gas Chemical Complex LLC and Uzbekistan GTL LLC.
As a practical training, a special training course "Financial reporting, analysis and cost management based on international financial reporting standards (IFRS)" was created, initiated by an international audit company.
At the beginning, Erlan Dosimbaev, Managing Partner of the EY Academy of Business, and Paul Cone, Head of the Audit Practice of the Audit Company for Central Asia, briefed the employees of Uzbekneftegaz JSC about the goals and objectives of this training.
At practical trainings, participants consolidated their knowledge of the results of global research in the field of corporate reporting, changes in the financial capital markets related to ESG reporting, the practice of "quick close" in the preparation of financial statements based on IFRS, the organization of the financial service in the company.
Especially these classes have become a good opportunity for specialists to improve their experience in the presence of signs of fraud in financial statements based on IFRS and ways to reduce them, the development of a financial planning and analysis system in a company, and the development of the impact of funding sources on investment performance indicators.
Also during the training, lectures were heard and practical trainings were held on the following topics: credit policy and receivables management, the impact of fixed and variable costs on changes in the company's cycle, modern trends in the organization of services "Finance Shared Service", identification of risks and methods for their reduction in financial services and the oil and gas industry, risk analysis and the use of data in financial analysis in visualization tools using MS Excell.
The lectures were delivered by experienced trainers of the EY Academy of Business with the ACCA international professional diploma - Viktor Kovalenko, Ainura Kazenova, Gulnar Musrepova and Kamilla Sizdikova, and practical classes were conducted in an interactive way.
As part of the training course, business meetings were also organized with specialists from the management of an international audit company in Almaty. It discussed the measures that need to be taken by Uzbekneftegaz JSC to effectively conduct an audit and prepare consolidated financial statements based on IFRS for 2021, and also received relevant recommendations.
Upon completion of the training course and practical training, the employees of Uzbekneftegaz JSC were awarded certificates from the EY Academy of Business.