Oleg Matveev, Deputy Director of FBK Bank Audit Department has acted as a moderator of the meeting of the financial services section of IIA

December 27, 2012 there was held the regular meeting of the financial services section of Institute of Internal Auditors (IIA) organized with the support of FBK.

During the first part of meeting the participants have discussed the willingness of companies to fulfill new requirements in the sphere of transfer pricing. A moderator of this session was Oleg Matveev, deputy director of FBK Bank Audit Department having shared FBK experience in decision of the complicated problems arising in financial and credit organizations in connection with the realization of transfer pricing legislation. In particular, there was raised a question about identifying the sources of information for the purposes of validating the prices on operations of trust manager. At the present time there are absent any accessible and acceptable sources of information about prices for trust management services. The participants of this meeting have come to the conclusion that people who had faced with such a situation have most likely to orient themselves on one of these methods based on the calculation of profitability indexes: «At the same time as the comparable organizations there must be taken such organizations which undertake similar activities i.e. conduct trust management of the corresponding assets», - Matveev emphasized.

During the second part of the meeting the experts have discussed the construction mechanisms of business partnership of operational risk-management and internal audit. The participants have told about the approaches used in their practice in the organization of cooperation of internal control services and subdivisions of risk management.