Statutory audit commission

VTB Bank's commercial activities are supervised by a Statutory Audit Commission elected for a one year term at the bank's annual general meeting.

The Statutory Audit Commission’s membership is decided at each annual general meeting. Statutory Audit Commission members must not be members of the Supervisory Council or hold management positions in the bank.

The Statutory Audit Commission reviews the bank’s compliance with laws and other regulations governing its operation, internal compliance, and transaction legality (through general or random audits).