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FBK Delivers Webinar on Basic Standard for Internal Control at Non-State Pension Funds
Date of publication
29.06.2022On 28 June, FBK delivered a webinar titled “Basic Standard for Internal Control at Non-State Pension Funds: Bank of Russia’s Recommendations and Market Practice”. Maya Savitskaya and Tatiana Kosakovich, Managers of the Department of Assurance and Advisory to Financial Institutions at FBK, spoke about internal control and its basic principles, as well as the place of the Standard among laws and regulations relevant for non-state pension funds and its application by non-state pension funds within a banking group.
“A system of internal control is a living organism. You cannot prepare documents, develop procedures and live with them for 20 years. The system should be verified and analysed for efficiency on an annual basis. Digitalisation and automation change business process principles, which requires revision of internal control methods,” Maya Savitskaya said.