VEON Files its 2023 Annual Report
VEON Ltd., known as a global digital operator, has taken a significant step by filing its Annual Report on Form 20-F for the year ended December 31, 2023. This action comes as a crucial milestone as it signals VEON's ongoing commitment to maintaining compliance with listing requirements. The filing was completed after an extensive audit of its financial statements by independent auditors, assuring stakeholders of the company's integrity and transparency in reporting.
Leadership Comments on Compliance
Kaan Terzioglu, the Group CEO of VEON, expressed gratitude towards partners and stakeholders for their support during the audit process, stating that the filing of the 2023 Form 20-F puts VEON back on track with listing compliance requirements. His words reflect the importance of this filing not just as a regulatory obligation, but as a testament to the company's dedication to restoring confidence amongst investors and partners alike.
Addressing Internal Control Weaknesses
VEON also highlighted improvements made regarding previously identified material weaknesses in its internal controls over financial reporting. As of December 31, 2023, the company remediated weaknesses related to the accounting treatment and financial statement presentation for disposals of businesses, an error discovered and corrected in prior reports. VEON implemented significant changes in its control environment to enhance the reliability of its financial reporting.
Remediation Confirmed by PCAOB Audit
Following the completion of necessary documentation and testing of remedial actions, the management of VEON concluded that all material weaknesses had been sufficiently addressed. The company's 2023 PCAOB audit has confirmed the enhancements, validating VEON's efforts to fortify its internal financial procedures and boost stakeholder confidence.
Accessing the Annual Report
Shareholders and interested parties can access the complete 2023 Form 20-F on the Financial Results section of VEON's official website. Additionally, the company offers hard copies of the report, which include audited financial statements, upon request via their investor relations department.
About VEON and Its Global Impact
VEON operates as a digital service provider, delivering connectivity and digital services to nearly 160 million customers across six countries. This operation supports over 7% of the global population, highlighting VEON's significant role in improving lives through technology-driven solutions. By focusing on empowering individuals and contributing to economic growth, VEON continues to evolve as an integral player in the digital landscape.
Contact Information for Investor Relations
For inquiries regarding the 2023 Annual Report or other financial concerns, VEON's Investor Relations Department can be contacted directly. This accessibility reinforces VEON's commitment to transparency and governance.
Frequently Asked Questions
What is the importance of VEON's Form 20-F filing?
The Form 20-F filing is crucial for regulatory compliance and demonstrates VEON's transparency and accountability to its investors and stakeholders.
Who conducted the audit of VEON's financial statements?
VEON's financial statements were audited by UHY LLP, an independent auditor, under Public Company Accounting Oversight Board standards.
How has VEON addressed previous internal control weaknesses?
VEON has implemented significant improvements in its control environment, successfully remediating previously identified material weaknesses to enhance financial reporting reliability.
Is the 2023 Form 20-F available to the public?
Yes, shareholders and the public can access the 2023 Form 20-F on VEON's official website.
How can I request a hard copy of VEON's financial statements?
Interested parties can request a hard copy of VEON's 2023 Form 20-F, including the audited financial statements, by contacting the Investor Relations Department.
