KPMG Bulgaria and PricewaterhouseCoopers Audit will audit and certify the 2017 annual financial statements of PAC Doverie.

KPMG Bulgaria and PricewaterhouseCoopers Audit will carry out the audit of PAC Doverie. By Decision No. 1401 - PAC dated 02.11.2017, the Financial Supervision Commission agreed on the selection of the two audit firms that will audit and certify the annual financial statements of the Company and the pension funds managed thereof for 2017.

 
PAC Doverie is the only company on the Bulgarian market that entrusted this responsible activity to the Bulgarian divisions of two audit companies from the so-called "Big Four" in the world, which, in addition to PricewaterhouseCoopers and KPMG, also includes Deloitte Touche Tohmatsu and Ernst & Young.

 
The choice of auditors is a part of the consistent policy of the Company, which, since its establishment and even before legislation regulating this activity was ever adopted, has been auditing according to international standards, which is carried out by leading international audit firms.

 
The same policy was applied by PAC Doverie during the international audit of the funds' asset management for the first half of 2016 and the second audit ordered by the FSC for the second half of last year. These were again carried out by KPMG Bulgaria and PricewaterhouseCoopers Audit.
In its marketing philosophy, the Company, since its establishment, has been guided by the understanding that its customers should receive service according to the best standards applied worldwide. This applies to all elements of the business and therefore the practice of being audited by the best in the world, as well as putting in place both required and additional systems to control and to ensure the transparent and responsible management of the assets entrusted to it, can be regarded as customary.

 
2017 is the first year for which the annual financial statements of pension companies and the pension funds managed thereof will be audited and certified on a statutory basis by two audit firms. This requirement was introduced by a change in the legal framework, which the legislator motivated by increasing the requirements for the control of supplementary pension insurance activities in the country in order to protect the interests of insured persons.