FBK Participates in the Audit Round Table in the State Duma

Alexey Terekhov, FBK Vice-President, has participated in the first round table held in the State Duma and dedicated to delegation of audit market regulation powers to the Central Bank.

The day before a draft law on the industry reformation was approved by First Vice-Prime Minister Igor Shuvalov and this week it will be introduced to the State Duma. Participants of the round table, including representatives of the major auditing firms, expressed their point of view.

“In our opinion, it is necessary to establish an independent body for auditors to address in case they do not agree with the directions given by the Central Bank. Otherwise, we may face a violent conflict between the regulating body and auditors as its mechanism is implied by the current version of the draft law,” noted Alexey Terekhov.