THE CENTRAL BANK CHECKS THE AUDITOR OF "KIWI BANK" - THE COMPANY KEPT

The Bank of Russia drew attention to the company Kept, which was engaged in the audit of Kiwi Bank. The Central Bank wants to find out how much the organization was aware of the risky operations of the credit institution and how it reacted to them.

This audit became the first serious precedent when the Central Bank evaluates how the auditor took into account Kiwi Bank's compliance with anti-money laundering legislation, Vedomosti writes. Previously, organizations were checked primarily for compliance with the rules of auditing.

As a result of the audit, the regulator may issue an order to the auditor, which will contain a warning, a request for additional information or a fine. As a last resort, the Central Bank may exclude the company from the list of auditors who are allowed to provide services to socially significant organizations in the financial market.

However, the regulator is unlikely to resort to such a measure in relation to the largest organizations. Each of the top 20 auditors has many large clients. If you exclude at least one auditor, then a "hole" will be formed, which will be problematic to fill.