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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of October 29, 2018 No. 245

About establishment of the List of the questions which are subject to check within audit of other information, Requirements to content, terms of representation of audit opinion by auditing organization on audit of other information, Requirements to auditors as a part of the auditing organization involved in audit of other information

(as amended on 24-02-2021)

According to the laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan", of November 20, 1998 "About auditor activities", of December 18, 2000 "About insurance activity", of July 2, 2003 "About the security market", of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Establish:

1) the List of the questions which are subject to check within audit of other information according to appendix 1 to this resolution;

2) Requirements to content, terms of representation of audit opinion by auditing organization on audit of other information according to appendix 2 to this resolution;

3) Requirements to auditors as a part of the auditing organization involved in audit of other information according to appendix 3 to this resolution.

2. This resolution extends to conducting verification of other information otherwise, than audit, in bank, branch of nonresident bank of the Republic of Kazakhstan, the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, the professional participant of the security market.

3. (Salimbayev D. N.) in the procedure established by the legislation of the Republic of Kazakhstan to provide to department of methodology of the financial market:

1) together with Legal department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days from the date of state registration of this resolution its direction in the Kazakh and Russian languages in the Republican state company on the right of economic maintaining "The republican center of legal information" for official publication and inclusion in Reference control bank of regulatory legal acts of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication;

4) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by subitems 2), 3) of this Item and item 4 of this resolution.

4. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.

6. This resolution becomes effective since January 1, 2019 and is subject to official publication.

Chairman of National Bank

D. Akishev

It is approved

Ministry of Finance of the Republic of Kazakhstan

October 31, 2018

 

A.A's smiles.

Appendix 1

to the Resolution of Board of National Bank of the Republic of Kazakhstan of October 29, 2018 No. 245

The list of the questions which are subject to check within audit of other information

1. Within assessment of risk management system and internal control in bank, branch of nonresident bank of the Republic of Kazakhstan, the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, the professional participant of the security market (further - the financial organization) the following questions are subject to check:

1) adequacy of determination risk profile of the financial organization proceeding from the chosen business model and the development strategy of the financial organization;

2) adequacy of determination of the aggregative level (levels) risk appetite (admissible risk level) and levels risk appetite by each type of risk of the financial organization;

3) compliance of strategic and budgetary planning to economic targets and the risks accepted by the financial organization;

4) quality of forecasting of the main financial performance of the financial organization;

5) quality of internal procedures of assessment of sufficiency of equity (the assets of branch of nonresident bank of the Republic of Kazakhstan accepted as reserve), and liquidities for covering of the risks inherent in activities of the financial organization;

6) the action plan, the contingencies directed to recovery of activities of the financial organization in case of origin;

7) quality and realization of domestic policy and procedures for risk management, inherent in activities of the financial organization, and for internal control;

8) extreme adequacy of values of quantitative and high-quality limits on different types of risks within multi-level system of limits;

9) quality of mortgage providing;

10) efficiency of internal rating assessment of borrowers (scoring);

11) efficiency of procedures for identification and asset management with impairment signs according to international accounting standards;

12) system effectiveness of the early prevention, directed to timely response to changes of internal and (or) external indicators of risk;

13) quality and efficiency of stress testing, and also assessment of adequacy of integration of its results in risk management system;

14) completeness, reliability and timeliness of the management information provided to collegiate organs of the financial organization within risk management system;

15) efficiency of functioning of system of three lines of protection.

2. Within assessment of strategy and business model, corporate management system the following questions are subject to check:

1) quality and efficiency of the made management decisions;

2) quality of policy of remuneration of leading employees of the financial organization;

3) compliance of structure of corporate management of the chosen business model and risk profile of the financial organization;

4) efficiency of measures for settlement of conflicting interests;

5) skill level of personnel.

3. Within assessment of risk management system of information technologies, check the following questions are subject to system effectiveness of information security:

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