Report on the Description of the National Settlement Depository Controls, Suitability of Controls Design and Operating Effectiveness,
12 October, 2015
7
c.
the controls tested, which together with the complementary customer controls referred to
in the scope paragraph of this report, if operating effectively, were those necessary to
provide reasonable assurance that the control objectives stated in the Description were
achieved, operated effectively throughout the period from February, 18 to August, 18 2015.
Description of tests of controls
The specific controls tested and the nature, timing and results of those tests are detailed on
pages 22-34.
Intended users and purpose
We were engaged to report by NSD and, therefore, this report and the description of tests of
controls and results, are intended for the use of NSD.
We permit the disclosure of this report, in full only, including the description of tests of controls
and results thereof by NSD, at its discretion, to customers who have used NSD’s system of
internal control system covering settlement depository, clearing and repository services and
their auditors, who have a sufficient understanding to consider it, along with other information
about controls operated by customers themselves, when assessing the risks of material
misstatements of customers’ financial statements, as well as all interested third parties
according to regulation requirements of Russian Federation and according to agreement №
8508/0815/RAS on August 04, 2015 between NSD and OOO PricewaterhouseCoopers Advisory
without assuming or accepting any responsibility or liability to customers or their auditors on
our part.
12 October 2015,
Moscow, Russian Federation
