Banking law. Reporting and audit of the Bank of Russia (the most important)

Lecture notes, cheat sheets
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Banking law. Reporting and audit of the Bank of Russia (the most important)

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21. Reporting and audit of the Bank of Russia

The reporting procedure for the Central Bank of the Russian Federation is regulated by the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)".

The reporting period (reporting year) of the Central Bank of the Russian Federation is set from January 1 to December 31 inclusive.

The Central Bank of the Russian Federation annually, no later than May 15 of the year following the reporting one, submits to the State Duma the annual report of the Central Bank of the Russian Federation, which includes:

1) a report on the activities of the Central Bank of the Russian Federation, including a list of measures for the implementation of the unified state monetary policy carried out by the Central Bank of the Russian Federation, and an analysis of the implementation of the main parameters of the unified state monetary policy;

2) analysis of the state of the economy of the Russian Federation, including money circulation and credit, the banking system of the Russian Federation, the foreign exchange position and the balance of payments of the Russian Federation;

3) an auditor's report on the annual financial statements of the Central Bank of the Russian Federation;

4) the conclusion of the Accounts Chamber of the Russian Federation based on the results of the audit of accounts and operations of the Central Bank of the Russian Federation, which are subject to the Law of the Russian Federation "On State Secrets";

5) annual financial statements of the Central Bank of the Russian Federation.

The annual financial statements of the Central Bank of the Russian Federation mean:

1) annual balance sheet, profit and loss account, including a report on the profit received and its distribution;

2) a report on the formation and use of reserves and funds of the Central Bank of the Russian Federation;

3) a report on the management by the Central Bank of the Russian Federation of securities and shares in the capitals of organizations that are part of the property of the Central Bank of the Russian Federation;

4) report on expenses for the maintenance of employees of the Central Bank of the Russian Federation;

5) a report on the execution of the estimate of capital investments.

The State Duma sends the annual report of the Central Bank of the Russian Federation to the President of the Russian Federation, as well as to the Government of the Russian Federation for conclusion, then considers it before July 1 of the year following the reporting one, and makes a decision.

The annual report of the Central Bank of the Russian Federation is published no later than July 15 of the year following the reporting one. In addition, the Central Bank of the Russian Federation monthly publishes its balance sheet, data on money circulation, including the dynamics and structure of the money supply, generalized data on the operations of the Central Bank of the Russian Federation.

After the approval of the annual financial statements of the Central Bank of the Russian Federation by its Board of Directors, the Bank of Russia transfers to the federal budget 50% of the profit actually received by it at the end of the year, remaining after paying taxes and fees in accordance with the Tax Code of the Russian Federation. The remaining profit is directed by the Board of Directors to reserves and funds for various purposes.

Taxes and fees are paid by the Central Bank of the Russian Federation and its organizations in accordance with the Tax Code of the Russian Federation.

The procedure for conducting an external audit of the activities of the Bank of Russia includes certain points. Before the end of the reporting year, the National Banking Council decides on the audit of the annual financial statements of the Central Bank of the Russian Federation, and also determines the audit organization that will audit the Central Bank of the Russian Federation. At the same time, the National Banking Council has the right to make recommendations to the auditor on the issues of the audit of the annual financial statements, and the auditor is obliged to ensure the implementation of these recommendations;

The Central Bank of the Russian Federation is obliged, in accordance with the contract for the provision of audit services concluded with the audit organization, to provide it with reports and information that are necessary for the audit of the Central Bank of the Russian Federation. Payment for the services of an audit organization is carried out at the expense of the Central Bank of the Russian Federation's own funds. The contract for the provision of audit services must specify the composition of the information transferred to the audit organization and provide for the responsibility of the audit organization for transferring the information received to third parties.

The internal audit of the Central Bank of the Russian Federation is carried out by the service of the chief auditor of the Central Bank of the Russian Federation, directly subordinate to the Chairman of the Central Bank of the Russian Federation. The procedure for conducting an internal audit is regulated by the Regulations on the organization of internal audit in the Central Bank of the Russian Federation "On the Service of the Chief Auditor of the Bank of Russia" dated March 31.03.1997, 02 No. 140-XNUMX.

Author: Belousov D.S.

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