Conference: IFRS in Russia 2012

In December 2011, Russia completed the process of official adoption of IFRS. This means that a significant part of Russian enterprises listed on stock markets as well as all Russian credit institutions and insurance companies will have to publish IFRS consolidated financial statements starting from the 2012 reporting year.

The conference held by Ernst & Young in association with the IFRS Foundation on 23 January 2012 in Moscow brought together representatives of the Ministry of Finance, the IFRS Foundation, the Central Bank of Russia, the NOFA Foundation and major Russian companies.

Speakers at the Conference included Hans Hoogervorst, Chairman of the International Accounting Standards Board (the IASB), Leonid Schneidman, Director of Department of the Ministry of Finance of Russia, Raisa Yerokhina, Deputy Chief Accountant of the Bank of Russia, Igor Kozyrev, Chairman of the Managing Board of the NOFA, Alan Teixeira, Senior Technical Director of the IFRS Foundation, as well as Ernst & Young's leading experts.

Presentations

• IASB’s strategy and plans for the near future
  Hans Hoogervorst, Chairman of the IASB
• IFRS Update
  Alan Teixeira, Senior Director, Technical Activities, IASB
• IFRS in Mining: Practical Issues
  Tracey Waring, Global IFRS Leader, Extractive industries, Ernst & Young
• IFRS 13: application to financial instruments (only in Russian)
  Dmitry Weinstein, Partner, Ernst & Young
• IASB active agenda (only in Russian)
  Tatiana Pavlova, Partner, Ernst & Young
• New IFRSs on consolidation and joint arrangements: practical aspects of implementation (only in Russian)
  Svetlana Polovinkina, Director, Ernst & Young
• Disclosures in the process of IPO: the role of IFRS reporting
  Gary Schweitzer, Partner, Assurance, Deputy Director for the CIS Capital Markets Group, Ernst & Young Moscow
• IFRS conversion by Russian companies: the procedure (only in Russian)
  Maxim Savostianov, Partner, Ernst & Young