Investment Project Management Company


Financial control

ZAO Geningconsult provides consultancy services for the Project financial monitoring and reporting in accordance with the requirements of the Russian legislation, the International Financial Institutions (IFI) and the best international practices with application of the fundamentals of the International Accounting Standards (IAS).

ZAO Geningconsult services provided for the financial monitoring include, inter alia, the following:

  •         control of the Contractor’s and the Consultant’s timely submission of contractual guarantees (advance payment guarantees, performance securities, etc);
  •         control of the payment documents presented by Contractors and Consultants for compliance to the Contract provisions and the financing institutions procedural requirements;
  •         control of the availability of the required approvals for disbursement of the Loan funds and the co-financing means;
  •         verification of settlements with the Project participants;
  •         scheduling disbursement of the Loan funds and the co-financing means as per the disbursement categories and the Contracts for the short-term and long-term periods;
  •         estimating the Loan funds and the co-financing means required for depositing to the Special Accounts and Co-Financing Accounts;
  •         control of the timely submission of the withdrawal applications,  replenishment of the special accounts and co-financing accounts;
  •         maintenance of the Project financial reporting;
  •         assisting in preparation and carrying out of the Project annual financial audit.