On December 17, 2015, the scheduled meeting of the Audit Council established under the Ministry of Finance of the Russian Federation for the purpose of public interest protection in the course of audit activity.
The Audit Council considered the Agenda implementation progress for the purpose of implementation of Federal Law No.403-FZ dated December 1, 2016. In particular, the meeting dealt with the issues of transition to International Standards of Auditing (hereinafter referred to as the “ISA”) in Russia.
It was noted that:
- the legal framework for transition to ISA in Russia was designed,
- the legal acts related to audit are brought in line with the latest edition of the Federal Law “On Auditing”,
- self-regulatory organisations of auditors have commenced the work on informational and methodological support of their members in respect of questions related to ISA.
The Audit Council approved the plan and schedule of its work for 2016.
The membership of the permanent working group of the Audit Council under the Ministry of Finance of the Russian Federation for adoption of the international standards of auditing was declared. Daria Makoveeva, a representative of the self-regulatory organisation of auditors Non-commercial partnership “Moscow Audit Chamber”, Senior Manager of Quality Control and Methodology Department, Mazars Russia, was approved as a member of this working group.
The information report on the meeting is available by downloading the document below.
The Minutes of Meeting of the Audit Council dated December 17, 2015, is available for download as well.
Information provided by the official site of the Ministry of Finance of the Russian Federation.