The study "Prospects and practical application of IFRS in Russia 2013

The company "Professional arena has announced the launch of an annual survey on IFRS. The purpose of his conduct is a generalization of practice of application of international financial reporting standards in Russia, including the reasons and methods of preparation of financial statements under IFRS, software used, problems faced by the company upon transition to IFRS, as well as the experience and willingness of specialists to the application of international standards.
Study participants receive free access to practical conference, which will take place on November 27, 2013 IFRS in Russia: peculiarities of transition and practice" and the ceremony of awarding the winners of the first international competition IFRS PROFESSIONAL.
In a study conducted in 2012, was attended by more than 2,000 respondents, the majority of which was chief accountants and specialists in IFRS large and medium-sized domestic enterprises.
As shown by the survey results, the majority of respondents are either already reporting under IFRS, or are planning to start to make in the coming year (beginning with reports for 2012, 2013). While the number of companies that are not yet plan to move to IFRS is still high (43%), and the number of organizations that make up the reporting according to international standards for more than a year yet slightly (less than 20% of respondents).
65% of entities reporting under IFRS, do it completely on their own, 25%, together with auditors and consultants from consulting companies, and 10% completely given to outsourcing. This suggests, on the one hand, a high demand for the companies themselves, with increasing during the last years of qualification components reporting according to international standards.
The most common way of reporting is the transformation (74%).
The main problems of the application of IFRS that were highlighted by respondents, are:
•lack of information (the difficulty of the texts of the standards). And difficult to understand are how the original text of the standards, and translated, introduced for the application of Russian companies by the Ministry of Finance (because of their direct transfer, without explanation for new home specialists concepts);
•lack of generalization and analysis of good practice IFRS Russian companies, as well as explanations and comments to the standards of the Ministry of Finance and other competent authorities. This work is carried out by the Interdepartmental working group on the application of IFRS, formed by order of the Ministry of Finance of Russia dated 30.03.2012 No. 148, from which we may conclude inefficient informing professionals;
•high cost of education to obtain international certificates in accordance with IFRS;
•high cost of services audit and consulting companies;
•the lack of qualified personnel, both from the perspective of employers and position of the customer services in accordance with IFRS.
The 2013 study, the presentation of the results which will be held in late fall, will allow to follow the above parameters in the dynamics, to see how the picture has changed practice transition and application of IFRS in our country over the past year, to identify the needs of professionals.
To participate in the study please fill out the form on the website of the international competition IFRS PROFESSIONAL http://www.ifrs-professional.com/issledovanie-perspektivy-i-praktika-primeneniya-msfo-v-rossii