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MinFin To Post Auditor “Blacklist”
 22.09.08 Soon, a blacklist of auditors who are "excessively helpful" in their services will appear on the official site of Russia’s Ministry of Finance (MinFin).
The list was developed on the basis of MinFin inspections of 577 auditing agencies over the past year. 70% of these were small enterprises. In many cases inspectors discovered “insufficient audit work documentation, which makes validating the auditor's opinion impossible.” To validate an auditor's opinion, tax inspectors must compare the auditor’s report and its documentation. Some auditors believe that this documentation allows obtaining information on financial status of auditor’s client. MinFin claims that audit secrets remain safe in this case.
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