Due to the recent sanctions on Russia, the RMI has started evaluating its impact on its audit program. To verify any potential impacts of the new sanctions on conformant status or eligibility, RMI has now started asking all Russia-based auditees participating in the RMI RMAP to provide current information on company structure and direct beneficial ownership. Under the RMAP program, it is now required that the auditees should conduct know-your-customer (KYC) and sanctions checks on their suppliers, or else they will be removed from RMI’s public Conformant list. As the situation evolves, RMI will continue to monitor it and will communicate with its members, auditees, and auditors about any developments impacting the RMI’s operations and audit programs

Reach out to our regulation experts on product regulatory compliances