FBK Holds Workshop for Gazprom Energoholding Group

FBK’s International Financial Reporting and Assurance Department and Department of Audit and Assurance for the Oil and Gas Sector have held an interactive workshop for Gazprom Energoholding Group focusing on dilemmas posed by Russian accounting laws and International Financial Reporting Standards.

The workshop featured Ksenia Shirikova, FCCA, FBK’s Partner, Natalya Belyaeva, FCCA, Senior Manager of the International Financial Reporting and Assurance Department, and Julia Grishina, Associate Director of the Department of Audit and Assurance for the Oil and Gas Sector.

FBK’s experts discussed the most complex issues posed by amendments to IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors that currently provide no off-the-shelf solutions or absolute answers. The speakers also offered their recommendations on disclosing accounting policies in 2023 financial statements drawn up according to IFRS. The experts provided a detailed overview of commodity loan accounting both for the lender and for the borrower, including accounting for accumulated impairment loss on lent assets. A separate interactive section covered intangible asset impairment procedures according to FAS 14/2022 Intangible Assets that had been adopted by Gazprom Energoholding Group’s entities ahead of schedule, starting from 1 January 2023.

“It is our absolute pleasure to stay a dedicated participant of such large-scale events. Just like before, we used state-of-the-art interactive approach with our audience allowing every guest to speak up and share their opinion on the discussed topics. Following the interactive section, we selected our best responders. The winners received invitations to the Training Conference ‘16th IFRS and Management Accounting 2023 – Getting Ready for 2024’. We were fully able to meet our client’s high expectations and standards,” Ksenia Shirikova highlighted.

The workshop was attended by executives of the management company, as well as the Group’s subholdings and major subsidiaries (Mosenergo, Moscow Integrated Power Сompany, TGC-1, OGK-2, GEH Finance, Gazprom teploenergo), including chief accountants, division heads responsible for RAS and IFRS financial reporting.