Putin Appoints Prosecutors, Tightens Control Over Investigative Committee

In a move to consolidate power and ensure accountability within Russia’s law enforcement agencies, President Vladimir Putin has appointed prosecutors in cities and regional districts’ prosecutors’ offices.

Key Points

• The appointments were made upon recommendation from Prosecutor General Yuri Chaika.
• The term of office for the newly appointed prosecutors is expected to be five years.
• Sources within the Investigative Committee (IC) revealed that Putin has removed several top officials from their positions and replaced them with loyalists who share his views on law enforcement and national security.

The move is seen as part of Putin’s efforts to maintain control over the country’s institutions and ensure his continued influence over the Russian government.

Audit Firm Independence Under Scrutiny

Concerns have been raised about the independence of audit firms in Russia. Critics argue that many firms are too close to the government and lack the necessary expertise to conduct independent audits.

Key Findings

• According to a recent report by the International Monetary Fund (IMF), some 70% of Russian companies have not had their financial statements audited annually, as required by law.
• The IMF has called on the Russian government to improve its auditing practices and ensure that audit firms are independent and competent.

Payment Systems Under Development

Russia’s central bank has announced plans to develop its payment systems. The move is aimed at improving the efficiency of transactions and reducing costs for consumers.

Key Points

• According to a report by the IMF, Russia’s payment system is currently fragmented and lacks standardized practices.
• The development of a single, unified payment system is expected to benefit both businesses and individuals.
• The Russian government has also announced plans to adopt international standards in payment systems, including ISO 20222.

Consumer Protection Issues Under Focus

Consumer protection issues have been placed under the spotlight by Russia’s regulatory authorities. The move comes as concerns rise over the quality of goods and services offered by companies operating in the country.

Key Measures

• Increased monitoring of company activities.
• Stricter enforcement of regulations.
• Plans to establish a national council for consumer protection, which will oversee the implementation of consumer protection policies.

These measures aim to improve consumer protection and ensure that companies operating in Russia provide high-quality goods and services.