Audit Under IFRS

Today the International Financial Reporting Standards (IFRS) are officially adopted in the territory of the Russian Federation.

The order of the Ministry of Finance of the Russian Federation of 25.11.2011 of Nr 160n "About introduction of International Financial Reporting Standards and Explanations of International Financial Reporting Standards in the territory of the Russian Federation" (registration in Ministry of Justice of the Russian Federation 05.12.2011 N 22501) came into force on December 9, 2011.

According to the law Nr. 208-FZ "About the consolidated financial statements" of 27.07.2010 the consolidated financial statements on IFRS have to be submitted:

  • credit organizations;
  • insurance companies;
  • joint-stock companies, which actions are in federal property and which list is approved by the Government of the Russian Federation; 
  • the organizations which securities are allowed to the address at the auction of stock exchanges and (or) other organizers of trade on securities market.

The annual reporting under IFRS is subject to obligatory audit.

Our approach to audit of financial statements on IFRS includes professionalism and scrupulousness concerning observance of all obligatory requirements to such reporting.

We help our clients to resolve the difficult questions arising upon transition to IFRS, we provide consultations and necessary tools.