Accounting Regulation Department

The Accounting Regulation Department is in charge of the regulation of accounting at credit institutions, non-bank financial institutions, and the Bank of Russia.

The Department drafts regulations on accounting (including charts of accounts), compiling of IFRS accounting (financial) statements by credit and non-bank financial institutions and the Bank of Russia, and the accounting policy of the Bank of Russia.

The Department prepares explanations on the procedure for applying the Bank of Russia’s regulations on accounting and accounting (financial) statements.

In order to enhance the accounting system in the Russian Federation and develop the practice of the application of IFRS, the Department’s representatives are engaged in the work of the Accounting Standards Board and various associations, the expert examination of draft federal accounting standards, and the coordination of the programmes for developing federal accounting standards.