On
March 1, LUKOIL launched its new Regional Accounting Centre in Perm as part of the
development concept of the LUKOIL Group accounting organizations. It comprises
all accounting departments of the Ñompany’s main enterprises located in the
Perm region: ÎÎÎ
LUKOIL-Perm, ÎÎÎ LUKOIL-Permnefteorgsintez, ÎÎÎ LUKOIL-Permnefteprodukt, ÎÎÎ
Permneftegazpererabotka and the accounting department of OOO LLC-International.
The
development concept of the LUKOIL Group accounting services, formulated to
enhance the performance efficiency of the respective subdivisions, calls for the
establishment of a uniform service entity in the main regions of the Company’s
presence based on the existing services of the enterprises located in this
region.
The
Centre will render services to all companies of LUKOUL Group in the areas of
bookkeeping, tax accounting and reporting. It will focus specifically on
enhancing the efficiency of the subdivisions by creating a reduced reporting
preparation period, cutting costs and systematizing and reducing the number of
the information systems in use.
The
development concept of accounting services envisages a plan for the
establishment of regional accounting centres and also of a uniform accounting
centre in Moscow, to act as a parent company for regional
subdivisions. Incorporation of the accounting centres in a global accounting
service is scheduled for the next phase.
Establishment
of the Regional Accounting Centre in Perm constitutes a pilot project, while
establishment of similar centres in other regions of the Company’s presence will
be contingent on its performance.
The
practice of establishing a specialized accounting subdivision within the
framework of a large holding, widely used by major overseas corporations and
also by Russian companies, is also known as insourcing (service rendering by an
in-house structure).
