The Central Bank of Russia has published its first review of the market for audit services provided to public companies and financial institutions. The review sets out key information on the financial sector audit market and data on measures taken by the central bank within its mandate, together with their outcomes. It notes that in 2025 only firms included on the regulator's register audited the financial statements of socially important organisations in the financial market. As of the review's publication, the register contained 41 audit firms. The central bank also stresses that auditors need to adapt their procedures to changes in clients' activities, including broader product and service offerings, new technologies and upgraded business processes. That, in its view, requires highly skilled audit teams and active input from valuation, information technology and risk management specialists.
Central Bank of Russia2026-03-30
Central Bank of Russia publishes first review of audit services market, with 41 firms on register for socially important financial entities
The Central Bank of Russia has issued its first review of the audit services market for public companies and financial institutions. It says only registered firms could audit socially important financial market organisations in 2025, with 41 firms currently on the register. The review also stresses that auditors need to update their procedures and specialist expertise as clients' business models and technologies evolve.