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In compliance with dated by 2014 Code of corporate governance, ʻthe Board of directors carries out strategic management, determines the main principles of risk management and internal control and also controls the executive bodies and carries out other key functionsʼ. The Central Bank of the Russian Federation issued in 2019 the Guide for the members of the board of directors ʻin financial organizations, and emphasizes in this document that in financial organizations the board of directors carries out two main functions — the function of control and strategic managementʼ. This is not casual that the regulator calls first the function of control as the most significant. The control function of the board of directors in financial organization is the subject of the study in the present article.
Tatyana V. Uvakina (Thu,) studied this question.