The Revisory Commission is a standing Bank body that is elected by a General Shareholders Meeting to exercise oversight of the Bank's financial and economic activity.
The Revisory Commission is elected by an Annual General Shareholders Meeting. A shareholder that owns (or shareholders that own between them) 2% or more of the Bank's voting shares may nominate candidates to the Revisory Commission not later than 30 days before the end of a financial year. Shares owned by the members of the Board of Directors of the Bank or persons holding offices in the management bodies of the Bank may not participate in voting at election of members of the Revisory Commission of the Bank.
Acting within its competence, the Revisory Commission conducts inspections of the Bank's financial and economic operations. To this end, it:
- Checks transactions made on behalf of the Bank and settlements with counterparties for compliance with effective law.
- Reviews financial and statistical statements' compliance with normative documents.
- Analyses the Bank's financial situation and elaborates guidance for the Bank's management bodies.
- Checks tax payments, calculation and payment of dividends and fulfillment of other obligations to be on schedule and accurate.
- Checks correctness of the Bank's balance sheets, annual report, annual financial statements, income statement, reporting statements filed with tax authorities or other state authorities.
- Carries out other works.
