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On January 28, 2010 issues of auditors observing requirement to undergo training under qualification programs were considered. So, there was considered an issue of suspension of validity of Auditor’s Certificate on the basis of valid excuses: for the period of maternity leave, army service, long-term business trip abroad and others. It is presumed that during the period of suspension of the Certificate validity, the auditor doesn’t have to undergo compulsory annual training.

To solve this issue, a special task group, headed by FBK President – Sergey Shapiguzov, was established under the Auditing Activity Board. According to him, the group was assigned to prepare proposals which the Board will submit to the Ministry of Finance. Sergey Shapiguzov explained that at the moment two alternatives are being considered. The first one is to solve the issue within the framework of effective legislation, using already existing regulations. In this case The Ministry of Finance have to make a list of valid excuses according to which the auditors have the right not to undergo the annual certification. NPO will have to take decisions on the basis of auditor’s statements. However, a problem turns up here, as the auditor does not lose his/her right to conduct audit during vacation, according to valid excuses, which is a violation of regulations.

The other alternative is to introduce amendments into effective legislation; that will make it feasible to suspend validity of Auditor’s Certificate. For the time of suspension, auditors have right not to undergo compulsory training, but they lose their right to conduct audit. When the term of suspension expires, the auditor undergoes corresponding advance training, the Certificate will be updated and the auditor will be able to conduct audit again.

In February the task group have to chose one solution and submit it to the Auditing Activity Board.