It was reported that the results of the audit of one of the country’s largest strategic enterprises were reviewed by the Accounts Chamber Council.

The total amount of violations identified amounted to 967.8 million soms. Of this, 135.9 million soms are subject to mandatory refund. Only 8.9 million soms were recovered during the audit.

The largest losses are related to ineffective management. Due to untimely operational decisions, Kyrgyzneftegaz and its subsidiary lost 495 million soms in potential revenue. Another 281.4 million soms in violations were identified in the distribution and processing of the payroll fund, the agency said in a statement.

The audit also found that the company’s management failed to properly collect 120 million soms in current and long-term accounts receivable. Another 54 million soms were spent on excessive and unjustified expenses.

Irregularities were identified in capital construction, public procurement, and land reclamation.

The OJSC was ordered to correct the identified deficiencies and return over 126 million soms to the company’s revenue. The audit materials will be sent to law enforcement agencies for legal review.