Monitoring of the Federal Legislation dated 14.10.2004

Decree of the President of the Russian Federation No. 1304 of October 11, 2004 on the Federal Medico-Biological Agency

Abandons the Federal Department of Medico-Biological and Extreme Problems of the Ministry of Public Health of Russia and forms on its basis the Federal Medico-Biological Agency subordinate to the Ministry of Public Health and Social Development of Russia. Appropriate changes are introduced in the structure of the federal bodies of executive power endorsed by the Decree of the President of the Russian Federation No. 649 of May 20, 2004.

The Decree is entered into force from the day of its signing.

Decision of the Government of the Russian Federation No. 536 of October 11, 2004 on the Amendments to the Decisions of the Government of the Russian Federation No. 266 of May 8, 2003 and No. 395 of June 30, 2003

Amends the rules of organisation and carrying out of the contest to choose the specialised depositary and the management companies for the Pension Fund of Russia to conclude with them the contract for the services of the specialised depositary and the contract of trust control of the resources of accumulated pensions.

The organiser of the contest is the Federal Service for Financial Markets.

Decision of the Government of the Russian Federation No. 532 of October 7, 2004 on the Amendments to the Federal Rules (Standards) of Audit Activities Endorsed by the Decision of the Government of the Russian Federation No. 696 of September 23, 2002

The federal rules (standards) of audit activities are extended to include five new rules (standards) of audit activities pertaining to the coordination of the terms of audit, auditor duties in examination of mistakes and unfair actions during the audit, taking into account the requirements of the normative legal acts of the Russian Federation during the audit, understanding of the activities of the audited entity and the audit sampling.

According to Rule (Standard) 12, the auditor and the management of the audited entity must reach agreement as to the terms of the audit. Coordinated terms must be recorded in the contract for the audit services.

Rule (Standard) 13 specifies uniform requirements to the auditor organisation and independent auditor in examination of mistakes and unfair actions during the audit of financial (accounting) reports. Specifies the duty of the auditor to suggest the risk of significant distortion of financial (accounting) reports resulting from unfair actions or mistakes. Provides examples of the risk factors pertaining to distortion as a result of unfair actions.

Rule (Standard) 14 specifies uniform requirements pertaining to the duty of the audit organisation and independent auditor to take into account observation by the audited entity of the normative legal acts of the Russian Federation during the audit of financial (accounting) reports of this audited entity. Provides examples of the facts showing the failure to observe by the audited entity of the normative legal acts of the Russian Federation.

Rule (Standard) 15 specifies uniform requirements to the understanding by the audit organisation and independent auditor of the activities of the audited entity.

Rule (Standard) 16 specifies uniform requirements to the random checks during the audit, as well as to the methods of selection of the elements to be checked for the purpose of collection of the audit evidence.

Letter of the Department of the Emission and Cash Operations of the Central Bank of Russia No. 29-5-1-18/3562 of September 16, 2004 "Information Report 06/04 of the Changes in the Monetary Circulation in the USA"

From September 28, 2004, there is a new banknote with the nominal value of USD 50 issued for circulation. The Letter provides the description of additional signs of protection of the mentioned banknotes of the issue of 2004. The earlier issued banknotes remain a legal tender, with the period of exchange being unlimited.