International groups with Russian operations often need local statutory accounting and a separate reporting package for consolidation under IFRS. Treating these as two disconnected accounting systems creates duplicate work and makes differences harder to explain.

Accountant & Co. supports a controlled reporting bridge from Russian accounting records to IFRS-oriented group reporting.

What the process can include

mapping the local chart of accounts to the group chart;
identifying recurring RAS-to-IFRS adjustments;
maintaining adjustment registers and supporting schedules;
balance-sheet and profit-and-loss reconciliations;
intercompany mapping and eliminations support;
foreign-currency and consolidation reporting inputs;
reporting packages for headquarters;
preparation of traceable files for audit review.

Keep the local ledger and transformation layer separate

A robust process does not need to overwrite local accounting records to produce group reporting. Instead, the local ledger remains the base data set and IFRS adjustments are documented in a controlled transformation layer.

This creates a clearer audit trail:

local closing balance;
documented reporting adjustment;
transformed balance;
group reporting line;
supporting calculation or evidence.

Recurring adjustments

Depending on the business and group policies, recurring differences may arise from classification, recognition, measurement, presentation or timing. The purpose of the reporting bridge is not to assume which adjustments apply, but to make each approved adjustment reproducible and reviewable from period to period.

Reporting package design

A practical group reporting pack normally combines financial statements with reconciliations and supporting schedules. We can structure the package around the parent company’s consolidation requirements, materiality thresholds and close calendar.

IFRS source material

IFRS Accounting Standards are issued by the International Accounting Standards Board through the IFRS Foundation. The applicable standards, amendments and effective dates should be checked for the relevant reporting period and transaction. Accountant & Co. does not reproduce licensed IFRS text on this page.

When this service is useful

a foreign parent company needs monthly or quarterly IFRS reporting from a Russian entity;
the local team currently prepares transformation spreadsheets manually;
auditors repeatedly request explanations for the same adjustments;
group and local balances do not reconcile efficiently;
the business is preparing for consolidation, due diligence or a reporting-process redesign.

See IFRS Services, Accounting for Foreign Companies in Russia and Financial Modeling.

Contact Accountant & Co. to discuss the reporting framework, close calendar and current transformation process.

The appropriate accounting treatment must be determined from the facts, applicable local requirements, current IFRS Accounting Standards and the group’s accounting policies.

RAS and IFRS Parallel Reporting | Accountant & Co.