International Financial
Reporting Standards

International Financial Reporting Standards is an important element of modern global economy. Thanks to IFRS, economists, investors and owners receive unified information and universally accepted financial statement figures.

Nowadays it is not necessary to study the peculiarities of accounting systems of every country, which are often completely opposite one another. It is enough just to open IFRS statements and to make the necessary decision. Year by year more and more countries are implementing IFRS as mandatory standards, primarily for consolidated financial statements.

Our company provides the following services in IFRS field:

• Transformation of financial statements. Transformation of statements developed conforming to Russian standards to the ones in accordance with IFRS;
• Preparing consolidated financial statements. Consolidation (unification) of statement figures of a parent company and its subsidiaries and affiliated companies into a single statement;
• Development of recording methodology. Organization of recording in accordance with IFRS including the development of reporting policies and accounting schemes;
• Audit of financial statements developed according to IFRS. Audit is conducted in accordance with International Standards on Auditing (ISA).

The project portfolio of IFRS Department includes almost everything, from the first IFRS application at a large mining company to transformation of financial statements of European manufacturers’ trade subsidiaries in Russia. We are engaged in organization of both accounting and management recording conforming to IFRS and keep records in accordance with IFRS for foreign companies.