Russian accounting rules at credit institutions are converging with IFRS. On January 1, 2016, the regulations of Bank of Russia came into effect to exclude the difference between the Russian Standards of Accounting (RSBU) and IFRS in accounting of underlying assets, intangible assets, investment immobile property, the costs on wages, incomes and expenses.
The webinar considered the issues that have been challenged or will be challenged when preparing bank reports under IFRS; estimated how the innovation will affect the procedure and the time to prepare the transformation files, and analysed which adjustments are no longer used in the preparation of statements according to IFRS for 2016.
Key issues of webinar:
- The standards governing the reporting under IFRS for a credit organisation, in particular, IFRS 9 “Financial Instruments”.
- The amendments that came into effect on January 1, 2016. Are there any differences with IFRS?
- The industry-based specificity of forms of reporting, transformation adjustments and disclosures.
The magazine "IFRS in practice"
Sergey Lytov, ACCA, Manager, audit department, certified auditor, Mazars