Audit of financial statements prepared under Russian accounting standards

The obligation for entities to undergo an annual independent audit of financial statements in accordance with RAS (Russian accounting standards) is stipulated by Federal Law No. 307-FZ “On Auditing” dated 30 December 2008 and other laws regulating specific types of activities or legal entities.

Statutory audits apply to the financial statements of entities whose securities have been admitted to public listing, as well as issuers of equity securities obliged to disclose information in accordance with Federal Law No. 39-FZ “On the Securities Market” dated 22 April 1996.

The audit of financial statements under RAS is one of FBK's core services. Over more than 30 years of operation, FBK has earned client trust and formed a unique team of experts with an excellent reputation and significant experience in accounting, coupled with a deep understanding of global regulatory and financial market changes. The company's leadership in auditing is confirmed by major industry rankings. According to Expert RA rating agency, FBK is one of the market leaders in providing audit services to financial market participants. In the general rankings of Russia's largest audit firms  and audit groups, FBK traditionally holds 6th place.