Ernst & Young Audit Services has won a tender for provision of audit services organized by the State Railway Administration of Ukraine (Ukrzaliznytsia). The winner of the tender was announced on Tuesday.

The offer price of the winner was not disclosed during the announcement, but it was previously reported that Ernst & Young Audit Services requested UAH 19.8 million (including VAT) for its services.

The other bidders included PricewaterhouseCoopers (Audit), which wanted UAH 25 million (including VAT) for its services.

Ukrzaliznytsia organized the tender with the aim of auditing its consolidated financial statements for 2014 and 2015, reviewing its condensed interim consolidated financial statements for the first half of 2015, and confirming the financial ratios it calculated under the terms of the loan agreements it concluded with creditor banks as of 31 December 2014, 30 June 2015, and 31 December 2015.

As reported, Deloitte will complete valuation of the assets of Ukrzaliznytsia on 15 May this year.