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Ernst & Young issued a Report on Vneshtorgbank's custody operationscontrols and procedures, prepared in accordance with SAS-70 standards.

 
29 July 2004
In February - April 2004 Ernst & Young (CIS) Limited, an independent service auditor, examined and tested internal controls and procedures related to Vneshtorgbank`s custody operations in accordance with the Statement on Auditing Standards No.70 (SAS-70) of theerican Institute of Certified Public Accountants (AICPA). In July 2004 Ernst & Young issued a Report on Controls Placed in Operation and Test on Operating Effectiveness which proves that the controls and procedures related to Vneshtorgbank`s custody operations are in conformity with international standards.

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