... Foreign Investment Advisory Council in Russia was held in The President Hotel in Moscow on May 14, 2001. For the first time, it was attended by Russia’s top corporate managers and business owners who are members of the Business Council attached to the Government of the Russian Federation.
The session of the Advisory Council was addressed by Mikhail M. Kasyanov, Chairman of the Government of the Russian Federation.
Mr. Kasyanov highlighted the principal development trends in the Russian economy, progress ...
... sets out agreed reform priorities and provides guidance on how to enhance corporate governance in the Russian Federation. Among its key recommendations, the White Paper identifies a full and quick adoption of IFRS for listed and widely held non-listed companies as a critical ingredient for improving transparency. In order to promote the achievement of this goal, a task force of Russian and OECD country experts was assembled and met during 2004 to establish priorities for implementation.
This report ...
... standards exist. The most important of them and some of the current changes in accounting and audit environment in Russia are being considered below.
The accounting reform program towards International Accounting Standards was adopted by the Russian Government In March 1998.
Since that time several Russian accounting standards have been adopted (for example, on financial statements, subsequent events, contingencies, revenues, expenses and so on). More than 20 national accounting standards are planned ...
... conclusions on economic and financial performance of enterprises, which creates additional risks and reduces investment attractiveness of the Russian economy. Existing accounting rules also create unnecessary difficulties and additional costs for economic entities when taking management and in
Nikolay Pavlenko
Nikolay Pavlenko
One of the specific features about the current draft of the national audit law is the fact that it does not take into account the specific nature of the national accounting system and current practices of economic entities.
The discussions of the draft law revealed the following issues that need to be solved in terms of its practical implementation:
the usage of the term «audit» since there are several areas of audit activities;
the existence of several charts ...