FBK at IFRS and Management Accounting 2024
FBK experts have spoken at the 17th training conference IFRS and Management Accounting 2024.
The event"s key topics included reporting development areas in the context of digitalisation of the financial sector, overview of new standards, cybersecurity, and real redomiciliation case studies.
Anastasia Terekhina, FBK Partner, opened the conference with a welcome address. She noted the growing interest of clients and conference attendees who come to the event every year to learn about the experience of specific companies, as well as know-how and ideas of professionals.
Natalya Belyaeva, FCCA, Manager of the International Financial Reporting and Assurance Department at FBK, spoke on IAS 38, discussing prospects of standard amendments and specifics of application in Russia. Lyubov Tulskaya, IFRS Manager of the Department of Assurance and Advisory to Financial Institutions at FBK, explained how to factor in the effects of IFRS 17 in group reporting.
Vladimir Skobarev, Partner and Head of the Corporate Governance and Sustainability Services Department at FBK, spoke about the application of IFRS accounting standards related to sustainability disclosures. He noted the drive in the development of this sector in 2024, as well as the increased interest of FBK's clients to this matter due to the enforcement of two IFRS accounting standards on sustainability disclosures from 1 January 2024. Vladimir Skobarev believes that in the future these IFRS accounting standards would become the basis for further development of other standards and methodologies, considering how fast the world around us is changing and in view of the global challenges that businesses are facing today.
Igor Sadovnikov, Head of the Investment and Construction Advisory Department at FBK, spoke on investment expenses, including accounting and migration in ERP systems. The expert reviewed advantages of an ERP system, as well as the possibilities of integration with other systems and programmes designed to automate various aspects of a company's operations to improve its efficiency.
Elena Scherbacheva, Associate Director of the Department of Accounting Advisory Services at FBK, and Irina Ivanova, Senior Manager of the Department of Accounting Advisory Services at FBK, spoke about redomiciliation and how to increase the investment attractiveness of the business. The experts noted that redomiciliation of a company after the imposition of sanctions has been getting ever more popular among international businesses. They described this complex procedure based on real transaction cases, including its stages and potential risks and benefits it entails.
The current state of IT industry is characterised by a growing number of data leak incidents, in particular identity theft. Ivan Roshhupkin, Manager and Head of FBK Cybersecurity, spoke about basic security approaches. Ivan offered examples of information security incidents, demonstrating the diversity and scale of this issue, and spoke about modern software, hardware and management security tools.
IFRS and Management Accounting Conference has been organised for many years with FBK"s support. The Conference brings together financial reporting and management accounting experts to develop unified approaches to financial reporting and related disclosures in Russia.