We draw your attention to the fact that the Government of the Russian Federation has decided to restrict access to information of domestic companies to audit organizations and individual auditors controlled by foreign citizens and companies.
The new rules are regulated by the relevant decree of the Government of the Russian Federation of April 19, 2021 No. 622. According to this document, the above-mentioned persons and organizations should not be provided with information defined by the relevant laws if the audited entities are issuers of securities and provide consolidated statements. In addition, banks and credit organizations, specialized depositories and insurers, non-state pension funds or management companies investing pension savings are subject to the restriction. Also, foreigners were denied the opportunity to conduct audits in microfinance companies, clearing firms, in retail chains and, of course, they are prohibited from working with defense industry enterprises.
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