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To verify and confirm the accuracy of annual financial statements and evaluate risk management and internal control system, subject to article 78 of the Law of the Republic of Kazakhstan “On Joint Stock Companies” and International Auditing Standards, “Damu” Entrepreneurship Development Fund” JSC (hereinafter – the Fund) involves professional auditing organization (external auditor) based on the competitive selection. In accordance with the Fund`s Charter, identification of an auditing organization to execute annual financial statements as established falls within the exclusive competence of the Fund`s Sole Shareholder.


External performance audit on the Fund activity is carried out annually by an auditing organization. External auditor renders, under financial statements audit purchase contract, services on the review of separate or consolidated financial statements from January 1 to June 30 of the fiscal year, on interim audit procedures from January 1 to September 30 of each fiscal year, and on annual financial statement in compliance with IFRS. In addition, rendering of related services within the audit includes consultation on accounting and taxation management, tax review, based on the financial statements audit results, and presentations to the Board of Directors, accounting record-keeping and financial statements preparation evaluation, and internal system adequacy evaluation, etc.


By the decision of “Baiterek National Managing Holding” JSC of 15.12.2021 No. 67/21, “Damu” Entrepreneurship Development Fund” JSC`s financial statements audit for 2022-2023 is assigned to the auditing company “PricewaterhouseCoopers” LLP.


2022 financial statements audit was performed by “PricewaterhouseCoopers” LLP. Remuneration paid to “PricewaterhouseCoopers” LLP for 2022 financial statements audit services amounted to KZT 58,800 thousands tenge, VAT included.

In 2023 “PricewaterhouseCoopers” LLP not provided individual services.


Earlier Fund`s financial statements audit services were rendered by:

·              2021 – “PricewaterhouseCoopers” LLP;

·              2020 – “PricewaterhouseCoopers” LLP;

·              2019 – “PricewaterhouseCoopers” LLP;

·              2018 – “PricewaterhouseCoopers” LLP;

·              2017 – “PricewaterhouseCoopers” LLP;

·              2016 – “PricewaterhouseCoopers” LLP;

·              2015 – “PricewaterhouseCoopers” LLP;

·              2014 – “PricewaterhouseCoopers” LLP;

·              2013 – “PricewaterhouseCoopers” LLP;

·              2012 – “Deloitte” LLP;

·              2011 – “PricewaterhouseCoopers” LLP;

·              2010 – “KPMG Audit” LLP;

·              2009 – Ernst & Young LLP;

·              2008 – “KPMG Audit” LLP;

·              2007 – “KPMG Audit” LLP;

·              2006 – “Deloitte” LLP.

Former employees of the auditing organizations performing financial statements audit have not been hired by the Fund.

External auditor information

External auditor information 2022 year

External auditor information 2021 year

External auditor information 2020 year

External auditor information 2019 year

External auditor information 2018 year