Audit firms in financial market: Bank of Russia’s review
The Bank of Russia has prepared the first review of the market of audit services provided to public companies and financial institutions.
In 2025, only companies listed on the regulator’s register audited financial statements of socially important organisations in the financial market. As of today, the register includes 41 audit firms.
The review contains key information on the market of audit services in the financial sector and provides data on the measures taken by the Bank of Russia within its mandate as well as on their outcomes.
According to the regulator, it is important that auditors adjust their audit procedures to the evolving nature of their clients’ activities, with the latter responding to the fast-changing environment by expanding their ranges of products and services, introducing new technologies, and enhancing their business processes. This approach requires a highly skilled audit team and an active involvement of valuation, IT, and risk management experts.