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Automatically translated version. May contain inaccuracies compared to the original.
6 November NABU, SAP and the Sternenko Community Charitable Foundation reported the signing of a memorandum of cooperation. The document provides for the exchange of information, as well as reporting on the use of funds that flow into the foundation under agreements.
According to SAP, the foundation has already received under such agreements almost 57 million UAH.
By the way, after the official signing of such a memorandum, does anyone still have doubts about how “voluntary” the choice of the Sternenko fund is for suspects and defendants when transferring so‑called charitable contributions under plea agreements?
But let’s return to the foundation itself.
Shortly before the memorandum was signed, on 27 October, the Sternenko foundation announced that it had undergone an independent financial audit conducted by Baker Tilly Ukraine.
The audit opinion is dated 5 October 2026 and covers the foundation’s activities for 2025 year.
However, there is one interesting nuance.
Baker Tilly is an international auditing brand whose Ukrainian representatives and related companies have repeatedly appeared in high‑profile journalistic investigations concerning questionable audit and valuation opinions.
In particular, in the context of NABU’s criminal proceeding into the misappropriation of 20 million dollars of state Oschadbank loan funds, the agroholding “Kreativ” was mentioned. Journalistic publications about this case raised questions about the reliability of the company’s financial statements and the role of Baker Tilly auditors in their falsification.
https://prawda.org.ua/35561
The PrivatBank story is also interesting in this context. In 2016, the company “Baker Tilly Ukraine EK,” which at that time was connected to the Ukrainian Baker Tilly structure, valued 120 oil depots at 8,7 billion UAH.
As journalists from Slidstvo.Info found, after the bank’s nationalization it turned out that the market value of these assets was roughly 15 times lower.
Moreover, the appraiser used not the market value but the so‑called valuation value of the oil depots.
https://www.slidstvo.info/news/kompaniya-pov-yazana-z-merezheyu-baker-tilly-otsinyla-naftobazy-dlya-pryvatbanku-v-15-raziv-dorozhche-vid-rynku/
Baker Tilly was also involved in the Kyivmiskbud story. After high‑profile journalistic investigations into the activities of the company’s former management, an audit was carried out in 2023 that included participation by, among others, SE “Baker Tilly Ukraine Consulting.”
As a result of the inspection, the auditors did not find signs of driving the company to bankruptcy, concealing financial incapacity, or widespread transactions with related parties.
Despite this, the activities of Kyivmiskbud’s management became the subject of numerous journalistic investigations, and certain circumstances attracted NABU’s interest.
https://komersant.ua/vyvodyty-z-kryzy-kyivmiskbud-bude-oliynyk-shcho-vidomo-pro-novoho-kerivnyka/
Separately, KP.UA in June 2025 drew attention to the audit of the company Globyno, for which questions arose about possible business ties with Russian counterparties.
According to the journalists, Baker Tilly published positive conclusions even though part of the primary documentation had already been seized by law enforcement at the time of the inspection.
More details:
https://kp.ua/ua/economics/a713374-baker-tilly-i-reputatsijni-otsinki-audit-chi-element-piaru
Whether to believe or not to believe in the reliability of the audit of the Sternenko Community Charitable Foundation is entirely up to each person, but when tens of millions are transferred to your accounts and you use a company with certain reputational risks for the audit, that gives rise to reasonable doubts about the truthfulness of the conclusions made in the report and about the transparency of the selection of the audit firm itself.
However, all that is hidden sooner or later becomes revealed.
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