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Independent Auditors’ Report
To the Supervisory Board of Joint Stock Company Commercial Bank “Alta-Bank” (ALTA-BANK ZAO)
We have audited the accompanying unconsolidated financial statements of Joint Stock Commercial Bank
“Alta-Bank” (the “Bank”), which comprise the unconsolidated statement of financial position as at 31
December 2009, and the unconsolidated statement of comprehensive income, unconsolidated statement of
changes in equity and unconsolidated statement of cash flows for the year then ended, and a summary of
significant accounting policies and other explanatory notes.
Management’s Responsibility for the Unconsolidated Financial Statements
Management is responsible for the preparation and fair presentation of these unconsolidated financial
statements in accordance with International Financial Reporting Standards. This responsibility includes:
designing, implementing and maintaining internal control relevant to the preparation and fair presentation of
unconsolidated financial statements that are free from material misstatements, whether due to fraud or error;
selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable
in the circumstances.
Auditors’ Responsibility
Our responsibility is to express an opinion on these unconsolidated financial statements based on our audit.
We conducted our audit in accordance with International Standards on Auditing. Those standards require
that we comply with relevant ethical requirements and plan and perform the audit to obtain reasonable
assurance whether the unconsolidated financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
unconsolidated financial statements. The procedures selected depend on the auditor’s judgment, including
the assessment of the risks of material misstatement of the unconsolidated financial statements, whether due
to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the
entity’s preparation and fair presentation of the unconsolidated financial statements in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of
accounting principles used and the reasonableness of accounting estimates made by management, as well as
evaluating the overall presentation of the unconsolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Opinion
In our opinion, the unconsolidated financial statements present fairly, in all material respects, the
unconsolidated financial position of the Bank as at 31 December 2009, and its unconsolidated financial
performance and its unconsolidated cash flows for the year then ended in accordance with International
Financial Reporting Standards.
ZAO KPMG
30 June 2010
ZAO “KPMG”
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Postal address:
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10 Presnenskaya Naberezhnaya Moscow, Russia 123317
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Telephones (fax):
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937-44-77 (937-44-99)
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Basic state registration number:
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1027700125628 |
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TIN:
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7702019950
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License:
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№ Е 003330, 17.01.2003
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Validity of the license:
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Five years
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Licensing institute:
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Ministry of Finance of Russian Federation № 9
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Director:
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Roger Mannings
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Дата последней проверки:
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01. 01. 2010
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Financial Statements
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