On 4 March as part of the events organised by the Self-Regulatory Organisation of Auditors, a webinar was held on key changes to the procedure for adding data to the State Information Resource for Financial Statements (GIRBO).
Elena Starovoytova, Managing Partner (Audit) at FBK, PhD in Economics, Associate Professor, Active State Counsellor of the Russian Federation, 3rd Class, and a member of the Accounting Standards Council under the Ministry of Finance of Russia, was the main speaker of the event.
Elena delved into the innovations, under which, starting from 2026, alongside annual financial statements and audit reports thereon, interim financial statements and the corresponding audit reports, as well as audit reports on annual and interim consolidated financial statements, must be submitted to GIRBO.
Particular attention she paid to the obligations of audit firms to submit audit reports on consolidated financial statements to GIRBO, as well as to cases where access to statements in GIRBO may be restricted—for example, if access to information about the economic entity in GIRBO is limited, if the consolidated financial statements are not subject to disclosure, or if they contain data that must not be disclosed. The speaker also reminded that issues of monitoring the complete and timely fulfilment by audit firms of their obligations to submit audit reports on consolidated financial statements to GIRBO are subject to review by the Federal Treasury during external quality control of audit firms' activities.
‘The new rules represent a crucial step towards boosting confidence in financial reporting. They allow regulators and the market to see the real picture unimpeded by any delays or ‘’gray zones’’,’ noted Elena Starovoytova.
A recording of the webinar is available via the link.
