Audit and Control

External Audit

The auditing firm applying for the right to audit Sberbank of Russia is selected by open tender. The tender documentation for the open tender to select the auditor is approved by the Tender Committee of Sberbank of Russia for procurement of goods, performance of works and provision of services, and published on the official website of the Bank. The auditing firm selected following the open tender is approved by the Executive Board, the Audit Committee of the Supervisory Board, the Supervisory Board and it is submitted for approval to the Annual General Shareholders' Meeting.

The financial statements of the Bank are audited from 2009 to the 1st quarter of 2015 in accordance with Russian and international financial reporting standards by Ernst & Young Vneshaudit CJSC.

The Annual General Shareholders’ Meeting of Sberbank of Russia held on May 29, 2015, approved Ernst & Young LLC as the bank's auditor.

 

Audit Commission

Sberbank of Russia’s financial and economic activities are controlled by the Audit Commission. It audits the Bank’s financial and economic activities and gives its opinion of the accuracy of data contained in the Bank's annual report and annual financial statements.


Members of the Audit Commission elected at the Annual General Shareholders’ Meeting on May 29, 2015:

Chairman of the Audit Commission:

Galina A. Golubenkova


Members of the Audit Commission:

Natalya P. Borodina

Vladimir M. Volkov

Tatyana A. Domanskaya

Yulia Yu. Isakhanova

Alexey Y. Minenko

Natalya V.Revina


Regulations on the Audit Commission of Sberbank of Russia


Internal Audit Service

The Internal Audit Service was assigned with the functions of inspecting and assessing the effectiveness of internal controls, risk management systems, information security systems, reliability of accounting and reporting, and some other controlling functions, including the functions of controlling the compliance with the procedures established for the internal controls over financial and business activities of the Bank.


Head of the Audit Service:

Oleg V. Chistyakov, Senior Managing Director - Director of Internal Audit Office


Provision on the Internal Audit Service


Internal Control Service

The Internal Controls Office is responsible for ensuring the compliance of Sberbank of Russia with laws, regulations and best practices, as well as for establishing and using effective methods and mechanisms to manage the risks of losses incurred by the bank as a result of failing to comply with legislation, internal documents of the bank, standards of self-regulatory entities and/or sanctions and/or other enforcement actions on the part of supervisory authorities.


Head of the Control Service:

Larisa A. Zalomikhina, Senior Managing Director - Director of the Compliance Department


Risk Management Service

In order to manage risks, the Bank established the Risk Management Office, which is a combination of structural units and committees of the Bank whose main function is to manage the risks.


Head of the Risk Management Service:

Vedyakhin Aleksandr Aleksandrovich – Senior Vice President of Sberbank