Mazars is actively engaged in this area development. This issue became particularly topical in Russia, because the application sphere of Federal Law No. 208-ФЗ “On Consolidated Financial Statements” has been expanded from May 5, 2014. Whereas previously it applied only to banks, insurers, and companies, the securities of which were listed on the stock exchange, now it affects non-governmental pension funds, management companies of mutual funds and non-governmental pension funds, and clearing organizations. Non-governmental pension funds, management companies and clearing organizations shall report in accordance with the IFRS beginning with the statements for 2015.
Adoption of the IFRS is usually accompanied by a number of difficulties for companies, including the lack of qualified personnel, the complexity of the process itself and difficulties in connection with the specific nature of activities.Specialists of Mazars are ready to provide the required support in adoption of the IFRS.
Due to a widely developed international network, specialists of Mazars have special knowledge in the activities of non-governmental pension funds, mutual funds and management companies.
Our specialists in Russia have practical experience in the following audit areas:
- audit of non-governmental pension funds' accounting, pension accounts of the non-governmental pension coverage, and pension accounts of the funded component of retirement pension
- audit of management companies’ accounting and financial statements
- audit of non-governmental pension funds' financial statements, making payments of occupational pensions, redemption amounts, payments to legal successors, professional pension payment
- preparation of transformation tables and IFRS financial statements
- IFRS training
- preparation and adaptation of transformation tables for each specific company
Key international and Russian ratings of Mazars in this area:
Please find the presentation of Mazars in Russia experience in FUNDS AND ASSET MANAGEMENT
Some of our customers’ recommendations: