DUSHANBE, November 8, 2013, Asia-Plus – A competition commission for selection of audit company to conduct audit at the National Bank of Tajikistan (NBT) has completed its work and Ernst & Young Ford Rhodes Sidat Hyder, which is member of Ernst & Young Global, has been granted a contract for conducting audit at Tajik central bank, according to the NBT press center.
We will recall that Ernst & Young London conducted a special audit at Tajik central bank in 2008 at the International Monetary Fund (IMF)’s request.
The report on the special audit conducted at the National Bank of Tajikistan in 2008 included specific recommendations to address the deep-rooted governance problems that contributed to the misreporting to the IMF that was revealed in 2007, and the Fund monitored implementation of these recommendations under the Poverty Reduction and Growth Facility (PRGF) program.
The results of the special audit of the NBT have reportedly been used to further strengthen its governance.
Ernst & Young (trading as EY) is a multinational professional services firm headquartered in London, United Kingdom. It was the third largest professional services firm in the world by aggregated revenue in 2012 and is one of the “Big Four” accounting firms. The organization operates as a network of member firms which are separate legal entities in individual countries. It has 175,000 employees and more than 700 offices in over 150 countries. It provides assurance (including financial audit), tax, consulting and advisory services to companies.
The firm dates back to 1849 with the founding of Harding & Pullein in England. The current firm was formed by a merger of American firms Ernst & Whinney (a successor firm of Harding & Pullein) and Arthur Young & Co. in 1989. It was known as Ernst & Young until 2013, when it underwent a rebranding. Ernst & Young announced globally, July 1, 2013, that it has adopted EY as its global brand name, it has also unveiled a new logo, adopted “Building a better working world” as its purpose statement.
