12 november 2012
Government decision to convert Russian organisations to the International Financial Reporting Standards
The item was considered at a November 8, 2012 Government meeting. Following consideration it was decided:
1. To agree to the measures proposed by the Ministry of Finance to move up the schedule to convert Russian companies and organisations to the International Financial Reporting Standards and extend their sphere of application.
2. For the Ministry of Finance and other federal executive authorities and organisations concerned to ensure by December 1, 2012 that the appropriate amendments are made in the Plan for the Development of Financial Reporting and Accounting in the Russian Federation based on the International Financial Reporting Standards for 2012-2015. The results are to be reported to the Government.