FBK at IFRS and Management Accounting Conference 2023

Experts from FBK have spoken at IFRS and Management Accounting Conference 2023 organised by the Methodology Publishing House. This year, the event has been dedicated to the application of financial statements in the case of restricted access, challenges of digitalization and import substitution issues.

The opening speech was given by Anastasia Terekhina, Partner at FBK.

Partner Ksenia Shirikova and Manager Svetlana Lebedeva presented their insights into legal ways of disclosing less information in IFRS financial statements. In particular, they mentioned such notion as materiality and its definition in different IFRS standards and spoke about related disclosure requirements.

Natalya Belyaeva, Manager of FBK’s International Financial Reporting and Assurance Department, dedicated her speech to adjustments to IAS 1 Disclosure of Accounting Policies.

Rinat Gilyadov, Senior Manager of FBK’s Valuation and Transaction Advisory Department, reported on measurement and IFRS 13. He talked about the definition of fair value, its hierarchy and various fair value measurement methods.

Svetlana Ponkratova, FBK’s Accounting and IFRS Methodologist, covered such topic as frozen assets. She spoke about new regulations on their measurement, accounting and disclosure in financial statements prepared under different standards.

Maya Savitskaya, Manager of FBK’s Department of Assurance and Advisory to Financial Institutions, and Ivan Roshchupkin, FBK CyberSecurity’s Senior Information Security Expert, focused on the requirements of the Bank of Russia to data quality evaluation in information systems of credit institutions. They explained which losses may be incurred as a result of the failure to comply with the requirements and advised how to arrange a corporate quality control system.

Alexey Katrich, Head of FBK’s Cross Sales Office, presented his report on a practical approach to project management from the perspective of the board of directors and management board.

IFRS and Management Accounting Conference has been organised for many years with FBK’s support and brings together financial reporting and management accounting experts to develop unified approaches to financial reporting and related disclosures in Russia.