According to the Directive of the Bank of Russia of 16.01.2017 №4265-U «On Amendment to the Directive of the Central Bank of Russia of December 3, 2012 №2923-U «On Disclosure and Presentation of consolidated financial statements by the Parent credit organizations of the banking groups», a parent organization of the banking group is required to disclose, simultaneously with the consolidated interim financial statements for the first 6 months, the audit report on these statements or other document compiled according to auditing standards. Earlier the auditor report was not a must for interim financial statements disclosure. The new requirement will be in force for financial statements for 6 months of 2018.
In cases when audit of consolidated interim financial statements is conducted for three or nine months, these financial statements are required to be disclosed together with the audit report.
According to the Directive banks are required to place the link to the source of financial statements and the audit report in case this information is not directly published on the web site of the parent financial institution of a respective banking group. Access to the financial statements as well as to the audit report should be public within 3 years starting from the disclosure date.
The present Directive of the Bank of Russia was registered in the Ministry of Justice of the RF and currently came into effect.
Users of the Information and Analytical system Globas-i® https://globas.credinform.ru/en-GB/home/auth can check every Russian banking and non-banking credit organization including branches with active licenses. There is also information about banks and non-banking credit entities with revoked licenses.
Source: Credinform Russia