ASTANA, Kazakhstan, April 15. The National Bank of Kazakhstan, acting as trustee of the National Fund of the Republic of Kazakhstan (NFRK), announced the completion of the audit of the NFRK's financial statements for 2024, Trend reports, citing the National Bank of Kazakhstan.
“The audit was conducted by the independent audit firm Deloitte, which was selected to carry out the fund’s annual external audit following the Rules approved by the Resolution of the Government of the Republic of Kazakhstan,” the National Bank’s statement read.
According to the Bank, the auditor’s report confirmed that the financial statements of the NFRK fairly represent the fund’s financial position, performance results, and cash flows for the reporting period. Furthermore, the statements fully comply with the fund’s accounting policy, which is based on International Financial Reporting Standards (IFRS).
“Key indicators in the NFRK's 2024 financial statements are as follows: net assets exceeded 34.7 trillion tenge (approx. $65.93), and the amount of liabilities under targeted obligations (within the ‘National Fund for Children’ program) totaled 349.1 billion tenge (approx. $663.29 million). The total amount of inflows from the Ministry of Finance of the Republic of Kazakhstan amounted to 3.8 trillion tenge (approx. $7.22 billion), while withdrawals to the republican budget in the form of guaranteed and targeted transfers reached 5.6 trillion tenge (approx. $10.64 billion),” the Bank added.
Meanwhile, following an agreement reached earlier, the NFRK assets, which were under protective measures in Sweden, were returned to the management of the National Bank of Kazakhstan. This step contributed to the improvement of financial performance and long-term profitability of the fund.
