FEDERAL LAW OF THE RUSSIAN FEDERATION

of December 1, 2014 No. 403-FZ

About modification of separate legal acts of the Russian Federation

Accepted by the State Duma on November 21, 2014

Approved by the Federation Council on November 26, 2014

Article 1

Article 42 of the Federal law "About Banks and Banking Activity" (in edition of the Federal Law of February 3, 1996 No. 17-FZ) (Sheets of the Congress of People's Deputies of RSFSR and the Supreme Council of RSFSR, 1990, No. 27, Art. 357; Russian Federation Code, 1996, No. 6, Art. 492; 26, the Art. 2586) to state 2001, to No. in the following edition:

"Article 42. Audit of the reporting of credit institution, banking group, bank holding

Annual accounting (financial) accounts of credit institution, annual consolidated financial statements of banking group, annual consolidated financial statements of bank holding are subject to statutory audit.

The audit opinion about annual accounting (financial) accounts of credit institution, annual consolidated financial statements of banking group in addition to No. 307-FZ provided by the Federal Law of December 30, 2008 "About auditor activities" shall contain results of check by auditing organization:

1) accomplishment by credit institution, banking group as of reporting date of the obligatory standard rates established by the Bank of Russia. At the same time auditing organization control techniques risks and the models of quantitative risks assessment applied to calculation of the specified obligatory standard rates credit institution, parent credit institution of banking group based on the permission issued by the Bank of Russia are not subject to assessment;

2) compliance of internal control and the organization of risk management systems of credit institution, banking group to requirements imposed by the Bank of Russia to such systems in part:

subordinations of divisions of risk management;

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