16/01/2024

JSC “UKREXIMBANK” (hereinafter “the Bank”) announces the competition for the selection of audit activity subject, which might be appointed for providing services on mandatory audit of the Bank’s financial statements concluded in accordance with the International Financial Reporting Standards for 2023, 2024 and 2025 (hereinafter – the “Competition”).

Bank details

The financial statements and other public information of the Bank are available on the Bank's website on Internet network (https://www.eximb.com) in the section “About the Bank”.

Additional information on the Bank's activity may be provided if necessary and in accordance with the request of the competition contestant.

General Conditions

In order to participate in the Competition the audit activity subject should meet the requirements set by the legislation, including the Law of Ukraine “On Auditing Financial Statements and Audit Activity”, the Regulation on the competitive selection of subjects of audit activity, which may be appointed for the purpose of providing services on mandatory audit of financial statements of Joint Stock Company "The State Export-Import Bank of Ukraine", approved by the decision of the Supervisory Board of Joint Stock Company "The State Export-Import Bank of Ukraine" (Minutes № 12) dated 17-19 June 2021 (hereinafter - the “Regulation on the competitive selection”), as well as the selection criteria approved by the Resolution of Cabinet of Ministers of Ukraine №859 dated 02.10.2019.

The financial statements mandatory audit engagement is determined by the tender documentation and includes the audit of financial (separate and consolidated) statements of the Bank for the years ending December 31, 2023, December 31, 2024 and December 31, 2025, in accordance with current legislation of Ukraine and normative legal acts of the National Bank of Ukraine, the National Commission on Securities and Stock Market, as well as the requirements of International Standards on Quality Control, Auditing, Review, Other Assurance and Related Services, taking into account the Laws of Ukraine “On Auditing Financial Statements and Audit Activity”, “On Banks and Banking Activity”.

Conditions and procedure of conducting the competition

The Competition is conducted in accordance with the requirements of the legislation and the Regulation on the competitive selection.

The competition is conducted in two stages and provides for the submission of qualification offers at the first stage of the competition and price offers at the second stage of the competition.

Subject of the procurement: services on mandatory audit of the Bank's financial statements for 2023, 2024 and 2025

Scope of services: provision of audit services in accordance with the main engagement of the mandatory audit of the Bank's financial statements for 2023, 2024 and 2025, which consists of:

1. Audit of separate annual and consolidated annual financial statements of the Bank as of December 31 of 2023 financial year and for the year will be ended the given date, concluded in accordance with the International Financial Reporting Standards;
2. Audit of separate annual and consolidated annual financial statements of the Bank as of December 31 of 2024 financial year and for the year will be ended the given date, concluded in accordance with the International Financial Reporting Standards;
3. Audit of separate annual and consolidated annual financial statements of the Bank as of December 31 of 2025 financial year and for the year will be ended the given date, concluded in accordance with the International Financial Reporting Standards;
4. Audit of additional information regarding the requirements of other legislative and regulatory acts in accordance with the requirements of the Regulation on the procedure for submission audit report based on the results of the annual audit of financial statements to the National Bank of Ukraine by the bank” approved by the Resolution of the Board of the National Bank of Ukraine № 90 dated 02.08.2018, for the relevant financial year;
5. Audit of information and expression of opinion on the information included in the Management Report (Corporate Governance Report) in accordance with the requirements of the Law of Ukraine “On Securities and Stock Market” for the relevant financial year.

Additional volume of audit services to the main task:

6. additional audit services, not related to the mandatory audit of financial statements (hereinafter – "additional audit services"), regarding the preparation of reports on the audit of financial statements of special projects of an international financial organization:
   • 6.1. services for the audit of financial statements of "Ukreximbank" JSC in certain areas of activity, namely: conducting an audit of the use of funds within the framework of the Access to Long-Term Financing Project ("LFTP") as of December 31, 2023 and for the year ending on that date, as well as cumulatively from the date of entry into force of the Loan Agreement No. 8727-UA dated June 26, 2017.
   • 6.2. audit services of financial statements of "Ukreximbank" JSC in separate areas of activity, namely: conducting an audit of the use of funds within the framework of Additional financing for combating COVID-19 within the framework of the Access to Long-Term Financing Project ("AF for LFTP") as of December 31, 2023 and for the year that ended on the specified date, as well as cumulatively from the date of entry into force of the Loan Agreement No. 9254-UA dated 06.07.2021.
7. additional audit services, the need for which may arise in the period 2023-2025:
   • 7.1. services for the audit of financial statements of "Ukreximbank" JSC in separate areas of activity, based on the decision to enter into a loan agreement with the International Bank for Reconstruction and Development within the framework of the implementation of a joint project as of December 31, 2024 and/or December 31, 2025, adopted by the authorized body Bank.
   • 7.2. services for the review (audit) of the interim consolidated financial statements of the Bank as of June 30, 2024 and/or June 30, 2025.
   • 7.3. services for the review of the interim consolidated financial statements of the Bank, which will be ordered on the basis of the decision of the Bank's authorized body to raise funds through the issuance of Eurobonds on international capital markets, which will provide for the auditor's review of the Bank's interim financial statements for the period specified in such a decision.
   • 7.4. professional services for carrying out the procedures necessary for the provision of a letter of comfort and other confirmations (on the basis of the annual consolidated financial statements as of the last reporting period from the date of implementation by the Bank of transactions involving raising funds through the issuance of Eurobonds on international capital markets and, if necessary, interim consolidated financial statements reporting for the period determined by the authorized body of the Bank when making a decision related to the relevant raising of funds) for the Lead Managers of transactions involving raising of funds by the Bank through the issuance of Eurobonds on international capital markets, as well as the processing of other documentation, which will be drawn up in relation to of this issue.

Period of providing services: services are provided immediately after conclusion of agreement for 2023, from 01.11.2024 and from 01.11.2025, respectively.

Deadline for forming an audit report: Independent auditor's reports, Report on the requirements of other laws and regulations (hereinafter – “Reports”) under the services agreement must be submitted to the Bank by 1 April 2024, 15 March 2025 and 15 March 2026 respectively.

Procedure for submission of qualification offers

Qualification offers should be submitted by candidates in person on paper to the authorized person of the Audit Committee at the address specified in this informational notice with simultaneous sending of their scanned copies to the Bank’s e-mail specified in this informational notice. Supporting documents determined by the tender documentation are to be provided along with the qualification offer. Qualification offers should be submitted before the deadline for submission of qualification offers.

All documents of the qualification offer from the candidate should be drawn up in Ukrainian (or translated into Ukrainian) and, if required by the tender documentation, in English, submitted under the signature of the authorized person of the audit activity subject. Copies of the documents submitted as part of the qualification offer must be certified by the mark "According to the original" indicating the title, name and initials of the person who certified the copy, his/her personal signature, the date of certification of the copy certified by affixing a seal (if any).

Qualification offers received by the Bank after the deadline for their submission are not considered and returned to candidates.

At the first stage qualification offers are to be submitted without specifying a price offer.

Price offers are sent only by the competition contestants who were admitted to the second stage of the competition within 5 working days from the date of the decision on the results of the first stage of the competition in accordance with the terms of the Regulation on the competitive selection.

Price offers are to be submitted on paper by the contestants personally to the authorized person of the Audit Committee at the address specified in this informational notice. Price offers are to be submitted in a sealed opaque envelope. The price offers received by the Bank are not subject to change by the competition contestants. The price offers received by the Bank after the deadline for their submission are not considered and returned to the competition contestants.

TO PARTICIPATE IN THE FIRST STAGE OF THE COMPETITION, PARTICIPANTS SUBMIT DOCUMENTS ACCORDING TO THE TENDER DOCUMENTATION, WHICH, AMONG OTHER THINGS, INCLUDE:

1. Application for participation in the Competition;
2. Basic information about the subject of audit activity (registration information, types of activity, officials, etc.);
3. Confirmation of the ownership of licenses, certificates and period of their validity, provided by the legislation of Ukraine;
4. Information on the contestant's absence of restrictions specified in the fourth part of Article 6 and Article 42 of the Law of Ukraine “On Audit of Financial Statements and Audit Activity”;
5. Information containing data on the contestant's compliance with the requirements of Resolution of the Cabinet of Ministers of Ukraine №859 dated 02.10.2019 “On Criteria for Selection of External Auditor of State Banks";
6. Presentation (in Ukrainian and English);
7. Other documents provided by the tender documentation.

The results of the Competition shall be notified to all contestants who took part in the Competition by email or by placing an appropriate announcement of the Competition results on the Bank's website.

You can read the Regulation on the competitive selection, Tender documentation and selection criteria by links:

• Regulation on the competitive selection
  
• Tender documentation
• Selection criteria
• Price offer form