The Eurasian Economic Commission (EEC) fined companies from Kazakhstan and Kyrgyzstan for unfair competition. The EEC website reports.
The decision was made based on the results of consideration of the case on the facts of unfair competition in the cross-border market of the EAEU. Fines must be paid by the professional organization of accountants Chamber of Professional Accountants of the Republic of Kazakhstan, Eurasian Institute of Certified Public Accountants LLP (Kazakhstan), Institute of Professional Accountants and Auditors of Kyrgyzstan Public Association and SIPAEN institution (Kyrgyzstan).
The basis for the investigation was an appeal to the Commission from the Russian Institute of Certified Public Accountants. It provides services for training and awarding qualified international certificates CIPA/CPA/CPA EURASIA to financial officers.
In the course of the case, it was established that the companies on their websites disseminated false information about the termination of the institute’s activities. At the same time, their activities were presented as a continuation and development of the CIPA certification program under the brand and design of the applicant. Such actions misled consumers who believed that they were buying a service from the rightful holder of the rights to issue CIPA/CPA/CPA EURASIA certificates. Because of this, the Russian Institute of Certified Public Accountants lost some of its clients.
According to the Minister for Competition and Antimonopoly Regulation of the EEC Bakhyt Sultanov, the actions of the companies were assessed as unfair competition.
«By the decision of the Board, the companies that committed violations were fined 662,500 rubles each. In accordance with the methodology for calculation and imposing fines for violation of the general rules of competition in cross-border markets, fines are paid to the budget of the state in the territory of which the offender is registered. These fines will be paid to the budgets of Kazakhstan and Kyrgyzstan in national currencies at the exchange rate on the day of the decision,» the minister said.
To stop anti-competitive actions, the Board also ordered the defendants to remove false information from the websites and in the future to refrain from dishonest behavior in the cross-border market of services related to training and certification programs for public accountants.
The decision of the Board will enter into force after 30 calendar days from the date of publication on the official website of the EEC.
