Article 82. Audit of the bank, the bank holding company and the organizations included in the banking conglomerate of the Law on Banks and Banking Activity in the Republic Kazakhstan

Home / Laws / Article 82. Audit of the bank, the bank holding company and the organizations included in the banking conglomerate of the Law on Banks and Banking Activity in the Republic Kazakhstan

1. The bank's audit is carried out by an audit organization authorized to conduct an audit in accordance with the legislation of the Republic of Kazakhstan on auditing.

2. An audit based on the results of a financial year is mandatory for banks (with the exception of a bank that has been deprived of a banking license to carry out all types of operations or is in the process of voluntary or compulsory liquidation), organizations in which the bank is a major participant, and bank holdings.

Separate and consolidated (if the bank has subsidiaries) annual financial statements of the bank and the bank holding company must be certified by an auditing organization authorized to audit banks.

The audit of the bank and its bank holding company is carried out by the same auditing organization. The audit of the resident organizations of the Republic of Kazakhstan, in which the bank is a major participant, is carried out by the same auditing organization.

3. A non–resident bank holding company of the Republic of Kazakhstan submits to the National Bank of the Republic of Kazakhstan a copy of the audit report and recommendations of the audit organization in Kazakh or Russian.

4. An audit of banks is conducted in order to establish:

the timeliness, completeness and accuracy of the reflection of the banking activities carried out in accounting and reporting;

compliance of the performed banking activities with the requirements of this Law and other legislation of the Republic of Kazakhstan;

compliance of the performed banking activities with the general conditions of banking activities, as well as compliance of the banking procedure with other internal documents of the bank.

5. The audit organization sets out the audit results and its conclusions in a report submitted to the Board of directors and the management board of the bank, if necessary, to another organization determined by the bank, which is part of the banking conglomerate.

The audit report of the financial statements of a bank or other organizations that are part of a banking conglomerate does not constitute a trade secret.

6. If a bank, a bank holding company, or an organization in which the bank and (or) a bank holding company are major participants fails to eliminate deficiencies that affect the financial condition of the bank or banking conglomerate indicated in the audit report and (or) recommendations of the audit organization, within the time period established by the authorized body, the authorized body until the deficiencies are eliminated. has the right to apply in relation to:

bank – measures to improve the financial condition and (or) minimize risks provided for in Article 80 of this Law;

of a bank holding company, an organization in which a bank and (or) a bank holding company are major participants, – compulsory supervisory response measures provided for in paragraph 2 of Article 81 of this Law.

7. If there is a deviation of the opinion and conclusions on the financial statements and (or) other information related to the financial statements regarding the recognition of assets, liabilities and contingent liabilities of banks, bank holding companies and organizations in which the bank and (or) the bank holding company are major participants set out in the audit report from the audit results, conducted by the authorized body, the authorized body has the right to require the audit organization to explain the reasons for such a deviation.

8. A branch of a non–resident bank of the Republic of Kazakhstan is obliged to submit to the authorized body a copy of the audit report of the financial statements of a non–resident bank of the Republic of Kazakhstan based on the results of the financial year and recommendations of the audit organization in Kazakh or Russian within ten working days after their submission by the audit organization to a non–resident bank of the Republic of Kazakhstan.

9. In case of identification of risks and deficiencies in the bank's activities, the authorized body has the right to require it to audit other information regarding the assessment of the risk management and internal control system, including the development strategy and business model, assessment of the corporate governance system, assessment of the information technology risk management system, assessment of the effectiveness of the information security system, and also, the effectiveness of the internal control system in the field of countering the legalization (laundering) of proceeds from crime, financing of terrorism and financing the proliferation of weapons of mass destruction (hereinafter referred to as the audit of other information), indicating the list of issues to be reviewed, the audited period and the deadline for the audit organization to provide an audit report on the audit of other information to the authorized body.

Auditing of other information at the request of the authorized body is mandatory for banks.

The Bank conducts an audit of other information no more than once a year, and an audit of other information on one issue is conducted no more than once every three years, with the exception of the case provided for in paragraph 11 of this Article.

The list of issues to be reviewed as part of an audit of other information, the requirements for the content and timing of the audit organization's submission of an audit report on other information, and the requirements for auditors in the audit organization involved in the audit of other information are established by regulatory legal acts of the authorized body in coordination with the authorized state body., carrying out regulation in the field of auditing and state control in the field of auditing and the activities of professional auditing organizations.

The audit plan for the audit of other information with a description of the intended directions, scope, nature of the audit, the specifics of the methods and standards used in the audit, is subject to prior approval by the audit organization with the authorized body.

The audit report on the audit of other information is submitted by the audit organization to the authorized body and is not subject to publication.

The results of the audit of other information may be taken into account by the authorized body when applying supervisory response measures.

10. To carry out an audit or audit of other information, a bank, an organization in which the bank is a major participant, or a bank holding company, engages an audit organization that meets the minimum requirements for audit organizations that conduct mandatory audits of financial organizations developed by the authorized state body regulating auditing and state control in the field of auditing and professional organizations.

A bank, an organization in which the bank is a major participant, or a bank holding company, no later than ten working days after the conclusion of an audit agreement or audit of other information, notify the authorized body of the choice of an audit organization. In the case of an audit of other information, the bank has the right to request the authorized body to conduct an audit of other information by a non-auditing organization in a manner other than an audit.

The bank's application is considered by the authorized body within five working days.

The requirements for the procedure for auditing other information established by this article apply to the procedure for verifying other information in a manner other than an audit.

The authorized body has the right, prior to the issuance by the audit organization of an audit report and (or) an audit opinion on the audit of other information, to provide the audit organization, subject to confidentiality requirements, with information and comments on the results of audits of persons specified in paragraph one of paragraph 2 of this article, as well as other information related to the activities of the bank, the organization in which the bank is a major participant in a bank holding company, including information based on a reasoned judgment of an authorized body, including, which constitutes a banking and (or) commercial secret, without the consent of the persons specified in the first part of paragraph 2 of this Article.

The audit organization shall carry out a mandatory assessment and analysis of the information sent by the authorized body in accordance with part five of this paragraph. The results of the assessment and analysis are used by the audit organization when expressing opinions and conclusions contained in the audit report or audit report on other information.

11. If the court finds the audit report and (or) the audit report on the audit of other information invalid, the bank, the bank holding company, the organization in which the bank and (or) the bank holding company are major participants, are required to audit and (or) audit other information repeatedly.

12. The authorized body has the right to require the auditing organization that conducted the audit and/or audit of other information of the bank to provide information, including information constituting a commercial secret, including on the list of clients. Information on clients is provided with the consent of the clients of the auditing organization.

13. The provisions provided for in paragraphs 9, 10, 11 and 12 of this article apply to branches of non–resident banks of the Republic of Kazakhstan and organizations engaged in certain types of banking operations.

The Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII SAM.

President

Republic of Kazakhstan

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