ALRUD experts have formed a compliance system for a Russian Charity Foundation

ALRUD experts have formed a compliance system for a Russian Charity Foundation

03 October 2021

Over a period of several years, ALRUD has participated in an integrated project on forming a comprehensive compliance system for the largest Russian private charity foundation, from a Code of Business Conduct to instructions on working with certain documents. ALRUD participated both in compliance matrix and document structure development, and in its implementation, refining and subsequent improvements. The firm has developed documents on the issues of professional and industry-specific ethics, anti-corruption, money laundering, personal data processing and protection, following up the results of checking with grant recipients, beneficiaries, donors, and also risk-management issues, including cooperation with persons under international and Russian sanctions and with politically exposed persons.

As a result of a collaborative work between the Foundation and ALRUD, the most advanced system of compliance regulation has been created, and now it is definitely both the ‘best practice’ and a benchmark in the industry. The created system has passed multiple strict checks of controls and practices judged by the BIG-4.

The project major problem was part of the compliance system implementation, the Foundation which, while complying with the Russian legislation, had to take into account foreign donors’ peculiar requirements. During project implementation, ALRUD has managed to clearly explain and rationalize differences between international compliance requirements, brought forward by foreign donors, and similar requirements in the Russian Federation.

As part of the comprehensive client support, ALRUD provided advice on the issues of labour law and personal data protection. Together with the Foundation, ALRUD experts have developed an effective system for using special-purpose capital of a non-commercial organization, based on the current legal frameworks.

ALRUD’s team, working on the project under the supervision of Senior Partner Maxim Alekseyev, included Partner Maria Ostashenko, councilors Kira Egorova and Anastasia Petrova, senior advisers Timur Akhundov, Margarita Egiazarova, Ksenia Erokhina, councilor Dina Kravchenko, lawyer Vera Glonina and junior lawyer Maria Petrova.

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