In her report ‘Accounting and Reporting in 2026: New Accounting Standards and Requirements of the Ministry of Finance of Russia’, the expert shed light on the strategic priorities for the development of the national accounting and reporting system until 2030, as defined by Government Decree No. 3386-r dated 22 November 2024. She also discussed the outcomes of the first year they were implemented in and offered recommendations on applying new Russian Federal Accounting Standards (RFAS).
During her speech, Elena Starovoytova provided an overview of major regulatory changes, including:
extended capabilities of the State Information Resource for Financial Reporting (GIRBO), with new requirements for submitting interim financial statements and audit reports on consolidated financial statements;
prospects for the development of new federal accounting standards; the specifics of applying RFAS 4/2023 ‘Financial Statements’ when preparing interim financial statements in 2026; conceptual approaches to implementing RFAS 9/2025 ‘Revenue’ with due regard for differentiated revenue recognition rules;
changes in the application of IFRS Accounting Standards within the Russian Federation.
‘In 2026, the accounting and auditing community remains directly involved in implementing the Government’s state policy priorities in accounting, financial reporting, and auditing through 2023. New federal accounting standards are coming into force, new IFRS Accounting Standards are being adopted in Russia, the GIRBO framework is expanding, and demands on quality and efficiency of auditors' work are growing. Our role as experts is to help entities go beyond mere compliance and build efficient accounting processes, mitigate risks, and use change as an opportunity to improve the quality of financial reporting,’ the expert noted.
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The workshop ‘Accounting Week’ has been held since 2009. The event is organised by the Institute for the Development of Modern Educational Technologies.
