Accounting compliance and reporting
Get it right and keep it right
Currently, organizations are facing increased pressure to remain compliant in the ever-changing regulatory environment. Functions such as Statutory Accounting and Tax compliance demand dedicated time, resources and a high level of competence.
To ensure compliance, reduce risk and increase efficiency, companies are outsourcing these functions. While outsourcing these functions, companies need to ensure that the team they are outsourcing to is well versed in the latest developments in financial and tax regulations, and with local statutory requirements, which are dynamic in nature.
Our team has profound professional experience in providing accounting services to national and international companies in accordance with national and international accounting standards, as well as in tax accounting support for companies, branches, representative offices.
How we can help
Managed centrally, our services link our competencies in finance and tax to support the full spectrum of compliance needs. Our suite of services includes:
Accounting compliance services in accordance with Russian accounting standards (RAS)
- Maintenance of accounting records in 1C accounting software (version 7 or version 8) based on the client’s source documents in accordance with Russian accounting standards
- Preparation of bank payment documents (payment documents are to be signed via the client’s bank by the client company official authorized to sign)
- Drafting of source accounting documents based on information provided by the client
- Processing employee expense reports
- Monitoring and reconciliation of accounts payable/receivable
- Сorporate income tax (CIT) returns (calculation of taxable income and deductible expenses on a quarterly basis, preparation and submission of CIT returns on an annual basis; this is subject to Tax Code conditions), including facilitation of monthly advance CIT payments (if required by the Tax Code, as subject to certain conditions)
- Preparing and submitting statutory financial statements to the tax authorities and state statistics bodies
- Preparing and submitting statutory tax reports to the tax authorities
- Preparing and submitting statistical reports to the state statistics bodies
- Payroll accounting, calculating payroll taxes, preparing and submitting respective reports
Other outsourced financial accounting and reporting services
- Providing support during audits performed by independent accountants and tax authorities
- Providing support in preparing financial and tax accounting policies
- Preparing corporate reports in accordance with the Client's requirements
- Adjustment and restoration of financial and tax accounting records
- Assisting the accounting personnel of the Client in financial and tax reporting
- Staff outsourcing for accounting function compliance
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Our updated guide offers you valuable information on accounting systems, tax and legal issues that can help ease your company's entry into the Russian market.
Best European Tax Compliance & Reporting Firm of the Year
In 2016, for the fourth consecutive year EY has been named “Best European Tax Compliance & Reporting Firm of the Year” at the annual International Tax Review (ITR) European Tax Awards.
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