ČEZ internal audit finds no corruption in dealings with major supplier

An internal audit in the power producer ČEZ found no corruption in the firm’s dealings with its major supplier, Škoda Power. The audit confirmed a marked increase in contracts for the engineering company worth billions of crowns after 2004 when its former manager, Martin Roman, became the CEO of ČEZ. However, the surge was related to an overall rise in ČEZ investments, according to the probe which reviewed 39 contracts between the firms worth 26.4 billion crowns. Former ČEZ CEO Martin Roman, who stepped down in September, faced allegations of conflict of interest over his role in ČEZ and Škoda Power. However, critics pointed out the audit would have more weight if it had been carried out by an independent entity rather than the firm itself.