• 12 Neglinnaya Street, Moscow, 107016 Russia
  • 8 800 300-30-00
  • www.cbr.ru
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Accounting and Reporting Department

The main functions of the Accounting and Reporting Department include support for the operation and development of the accounting system of the Bank of Russia, organisation of, and support for, the compilation of the accounting (financial) reporting of the Bank of Russia, maintenance of the accounting of operations performed by the structural units of the head office and other divisions of the Bank of Russia, organisational support for the creation, reduction and use of provisions to cover possible financial losses of the Bank of Russia.

As part of delivering on the above objectives, the Department performs the following functions:

  • prepares the Bank of Russia’s balance sheet for publication on a monthly basis;
  • compiles the annual accounting reporting and the annual financial statements of the Bank of Russia;
  • compiles the Bank of Russia’s financial statements and the consolidated financial statements of the Bank of Russia Group in accordance with International Financial Reporting Standards (IFRS);
  • organises the work related to the auditing of the annual financial statements of the Bank of Russia, the financial statements of the Bank of Russia, and the consolidated financial statements of the Bank of Russia Group in accordance with IFRS;
  • prepares and submits documents, materials and information to the Accounts Chamber of the Russian Federation as part of control and expert analytical measures conducted by the Accounts Chamber of the Russian Federation;
  • maintains accounting of the Bank of Russia’s capital and funds, precious metals, foreign currency, provisions, reserve funds of banknotes and coins, the Bank of Russia’s equity stakes in credit institutions and legal entities, and its operations in the domestic and foreign financial markets;
  • maintains the accounting of operations related to the economic activities of the structural units of the Bank of Russia’s head office and its branches, as well as the representative office of the Central Bank of the Russian Federation (Bank of Russia) in the People’s Republic of China, Beijing;
  • settles payments with accountable persons, contractors, credit institutions and other counterparties, Bank of Russia employees with regard to labour remuneration and other benefits, former Bank of Russia employees and their family members; carries out operations involving lending to Bank of Russia employees; and maintains tax accounting of certain operations;
  • prepares proposals to be considered by the Bank of Russia Board of Directors to assess the level of exposure, classify credit and other similar claims under quality categories, create, reduce and use provisions on credit claims and other Bank of Russia operations, as well as create and use provisions on accounts receivable related to economic activities;
  • develops the Risk Assessment Methodology for possible financial losses of the Bank of Russia on credit claims and other assets;
  • forecasts the size of provisions on credit claims;
  • performs works for the optimisation and automation of business processes in the accounting divisions of the Bank of Russia;
  • monitors the compliance with the business process rules by the Bank of Russia’s structural units;
  • consults and provides methodological and practical assistance to the Bank of Russia’s structural units on issues related to the workflow of primary accounting records;
  • operates in the framework of project management, initiates and supports projects related to the operation and development of the Bank of Russia’s accounting system.
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Last updated on: 28/07/2020