DEVELOPMENT BANK AUDITED BY DOMESTIC AND INT’L ORGANIZATIONS

Ulaanbaatar /MONTSAME/ An auditory report and recommendations by “PricewaterhouseCoopers” LLC, on the 2013 report of Development Bank of Mongolia have been assessed and are to be submitted to parliament. Annual reports of the Development Bank, assessed by National Auditory Agency every year, have been assessed simultaneously by an international auditory organization in the last two years. The bank inked agreement with “PricewaterhouseCoopers” LLC in 2013, in accordance with 29th protocol of the board of directors, to have yearly audits on its operational and financial reports of 2013, 2014, 2015. Pursuant to the agreement, the company audited the 2013 annual and semiannual financial reports of the bank and evaluated them as “valid”. The national auditory agency reassured the evaluation by its approval. The Development Bank, during its three year operations, had audits from three domestic and international auditory organizations.