IFRS Reporting & Transformation Services in Russia | Accountant & Co.
IFRS reporting, RAS-to-IFRS transformation, group reporting packages and recurring IFRS support in Russia. Recurring reporting from $600; setup/transformation projects from $2,000.
Accountant & Co. supports companies that keep Russian local accounting records but also need IFRS or group reporting. The objective is to maintain a controlled bridge between the local ledger and the reporting package rather than rebuild the numbers manually at every period end.
Published IFRS scopes and starting prices
| Scope | Typical output | Starting price |
|---|---|---|
| IFRS setup / transformation | Mapping, adjustment model and initial reporting package | $2,000 |
| Recurring IFRS reporting support | Periodic reporting pack and reconciliations | $600 |
| Reporting-package review | Review of transformations, schedules and supporting evidence | $2,500 |
The final fee depends on the number of entities, reporting frequency, chart-of-accounts complexity, consolidation requirements, opening-balance quality and the number of recurring adjustments.
RAS-to-IFRS transformation
A controlled transformation process can include:
- mapping the Russian chart of accounts to the group/IFRS reporting structure;
- identifying recurring and one-off adjustments;
- documenting the rationale and source data for each material adjustment;
- preparing opening-balance and movement reconciliations;
- maintaining adjustment schedules by reporting period;
- preparing a reporting package aligned to the group’s required format;
- retaining supporting evidence so adjustments can be reviewed later.
Where the local records remain the statutory source ledger, the IFRS layer should remain traceable back to those records rather than overwrite them.
Recurring group reporting
For foreign-owned Russian companies, a recurring reporting pack may include:
- balance sheet and profit-and-loss mapping;
- cash and working-capital schedules;
- intercompany balances and reconciliation status;
- IFRS/group adjustments;
- explanations for material period-on-period movements;
- reporting forms required by the parent company;
- an issues log for unresolved accounting questions.
See also Accounting for Foreign Companies in Russia and RAS and IFRS Parallel Reporting.
What is needed to start
A useful initial package normally includes:
- current trial balance and chart of accounts;
- prior IFRS/group reporting pack, if one exists;
- group accounting instructions and reporting templates;
- opening-balance reconciliation;
- fixed-asset, lease, inventory, receivable/payable and debt schedules where material;
- intercompany list and reconciliation status;
- known historic adjustments;
- reporting calendar and deadlines.
If prior periods cannot be reconciled, historic cleanup should be separated from the recurring reporting process.
IFRS source discipline
The authoritative public source for IFRS Accounting Standards and associated materials is the IFRS Foundation / International Accounting Standards Board (IASB). Current standards and supporting material are available from the IFRS Accounting Standards navigator.
Accountant & Co. can help organize the accounting data, transformation schedules and reporting workflow. The exact accounting treatment of a material transaction must be assessed against the applicable IFRS requirements and the specific facts of the transaction and reporting period.
Review is not an audit opinion
A review of an IFRS reporting package, transformation schedule or reconciliation is not the same as an independent audit opinion. Where an entity requires a statutory or other regulated audit/assurance report, the engagement must expressly identify the appropriately authorized audit provider.
Contact
Accountant & Co., Nagatinskaya St. 16, Moscow, 115487, Russia.
Phone: +7 (930) 335-69-26
Email: [email protected]