The issue was discussed at a Government meeting on October 25, 2012. The following decisions were adopted:

1. The Ministry of Finance, the Federal Service for State Statistics and relevant federal executive agencies and organisations are to discuss options for easing the procedure of industry-specific and other reports, separate reporting of revenue and expenses; cancelling redundant accounting (financial) reports to the Federal Service for State Statistics and the above stated agencies.

The proposals are to be submitted to the Government in accordance with the established procedure by May 15, 2013.

2. The Ministry of Finance, the Ministry of Economic Development and the Central Bank of the Russia Federation are to submit relevant materials on faster and wider adoption of international financial reporting regulations by Russian organisations, to be discussed at the next Government meeting.