Cbanker: 52 bankrupt Russian banks had positive audit reports ‘16

MOSCOW, Nov 14 (PRIME) -- Auditors confirmed authenticity of financial reports of 52 out of 58 Russian banks that went bankrupt in 2016, Central Bank Chairwoman Elvira Nabiullina said on Monday in a conference.

“In 2016, we revoked licenses from 77 banks, and 58 of them were declared bankrupt, and 52 of the bankrupt banks had auditor reports confirming authenticity of their annual reports,” she said.

Since 2013, the regulator has revoked licenses from 291 credit institutions, and most of them had signs of unreliable reports. Of the banks, 205 were declared bankrupt, and 182 received non-modified auditor reports, she said.

Finance Minister Anton Siluanov said that the ministry has many questions to work of self-regulated organizations on the Russian market of audit services, and the ministry offers to cut the number of the organizations to one from five.

“We have rather a large number of these self-regulated organizations -- five of them are working on the market. We think it is necessary to unify the amount, to make a single self-regulated organization, which will receive more oversight from regulatory bodies for the good of audit companies that work on the market today,” Siluanov said.

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