ACIG participates in the Conference “IFRS in Russia: Transition Details and Application Practice”

On November 28, 2012, the conference “IFRS in Russia: Transition Details and Application Practice” took place in Moscow. The conference was focused on challenges and peculiarities of Russia’s transition to the International Financial Reporting standards.

The participants discussed the following topics:

• IFRS public policy;
• CIS’ countries experience in transition to international standards;
• Difficulties of Russia’s transition to IFRS, points of view of the leading analysts and public authorities’ representatives;
• Large Russian companies’ experience in transition to IFRS;
• International trends in IFRS development and their application in other countries.

The participants of the conference were public authorities’ representatives, heads of the leading Russian companies, leading experts and analysts.

At the event, ACIG was represented by Larisa Karaseva, Head of the IFRS Department. She believes that the platform gathered a wide range of people, including heads of companies, chief accountants, financial directors, planning to transit their companies to IFRS. It was the event’s substantial advantage.

“I think that the fact that the public authorities’ representatives have also realized the importance of financial reporting, based on the IFRS principles, is one of the key aspects connected with Russia’s transition to IFRS. In the course of our country’s transition to IFRS, the government is working in close rapport with the professional community. This fact noticeably facilitates the transition to a new cooperation level, presupposed by the international standards”, commented Larisa Karaseva.