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. Last Updated: 07/27/2016

Auditing Equity

The auditing firms that are officially on the list of participants in the competition for the right to conduct the Central Bank's 1996 audit have been announced. ... [including] representatives of the "Big Six," Deloitte and Touche, Coopers and Lybrand, Price Waterhouse, Ernst and Young.

For the first time, a Central Bank auditor may be a domestic firm. ... The presence of Russians in the tender became possible thanks to the cancellation of a point in a statute concerning determining an auditor for the Bank of Russia, according to which only firms working on the market for no less than 10 years were allowed to participate. But even our oldest firms, which appeared in 1989 and 1990, could not cross that barrier. Finansoviye Izvestia, Nov. 19