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Deloitte, PwC, KPMG have captured Kazakh market: MP 31 октября 2014, 17:26

Kazakh MP Vladislav Kosarev has declared that something needs to be done about the foreign audit companies that have captured the Kazakh market.
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©Tengrinews reports ©Tengrinews reports

Vladislav Kosarev, a member of the Majilis, the lower chamber of the Kazakh parliament, believes that foreign auditors have taken over the Kazakhstani market, a Tengrinews correspondent reported from the October 29 plenary session of the Lower Chamber of the Parliament on amendments to the 2014-2016 Budget.

"In our country, auditing is done by companies like Pricewaterhouse, Deloitte, KPMG. These are leading accounting firms, they have captured 80 percent of the Kazakh audit market. Why can’t we even sum up the results, make judgments on operations in our own country? Why are we falling into such an economic bondage? I think we need to crawl out of this situation and crawl out decisively," the MP said.

He declared that the Audit Committee of Kazakhstan had to check the grounds on which those audit companies were operating in Kazakhstan.

"So, perhaps, this is why we have such results. In 1991 the gross agricultural product had a share of 29.5 percent (in the GDP), whereas last year it made only 4.6 percent," Kosarev said.

"The integration with the world's major powers gives us a lot - innovation and so on. But they will never want to create the conditions where we can develop rapidly. It is the law of capitalism," the Kazakh MP concluded.

Reporting by Altynai Zhumzhumina, writing by Dinara Urazova

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