OREANDA-NEWS. The Bank of Russia will start posting on its website results of financial reporting audit of non-credit financial organisations (NFO) and issuers.

Site visitors will be able to get information about which audit organisation certified a financial report of a certain company, to take a look at its conclusion, including the one on NFOs which licences were subsequently cancelled. Substantiated information on licence cancellation for financial market participants will be updated on a monthly basis.

Publication of this information is based on a corresponding legal framework.

The novation will involve insurance companies (except for compulsory health insurers), management companies, and non-governmental pension funds. Besides, there will be posted information on non-credit clearing organisations and issuers which securities are included in the quotation list (except for credit institutions and parent organisations of bank holding companies information on which is published separately). The list of disclosed data will include key features of a financial market participant, its auditor, as well as auditor’s opinion on the financial reporting of a non-credit financial organisation and an issuer.

Starting January 2016, the Bank of Russia has been disclosing on its website the data on audit results of annual reporting of credit institutions and banking groups. The use of a similar approach in a financial market sphere will promote the establishment of a consolidated database with financial reporting audit results of credit institutions and non-credit financial organisations and issuers.