PROBLEMS IN THE IMPLEMENTATION OF THE SYSTEM OF INTERNATIONAL FINANCIAL REPORTING STANDARDS BY RUSSIAN ORGANIZATIONS

In this article, the authors analyze the problems and barriers in the implementation and use of the system of international financial reporting standards in Russia, highlight the reasons associated with the need for implementation, and reflect specific factors that hinder the process of applying IFRS by all Russian organizations in modern conditions. Until recent events, the application of IFRS has been one of the most discussed topics among accountants. It is a well-known fact that difficulties are associated with the transformation of reporting, the lack of specialists with a diploma in international financial reporting (ACCA DipIFR); high level of prices for audit and consulting services; insufficiency of comments and clarifications from the Ministry of Finance on successful practices in the application of IFRS. Since 2010, in accordance with the adopted federal law on consolidated financial statements, some organizations have begun to implement IFRS. Thanks to the transition to this toolkit, organizations not only increase the number of new customers, expand their markets, but also attract investors. Another problem faced by organizations that have decided to switch to IFRS is the impossibility to fully automate data. Thus, the ambiguity of approaches to the transition to IFRS in Russian practice justifies the relevance of the topic under consideration. In the context of the globalization of the economy, with the influence of all other factors, under the conditions of sanctions, in our opinion, there is no need to cancel the application of IFRS by Russian enterprises. To speed up the process of implementing IFRS, government intervention is needed, namely: development of methodological tools; subsidies for training accountants under additional education programs at universities; creation of a website with the possibility of consulting support on the transition to IFRS.

international financial reporting standards, transformation of the accounting system, reporting, accounting system, accounting tools, DipIF, consolidated reporting, Russian accounting standards, investment attractiveness, barriers to transition to IFRS, fair value, globalization of economic relations

Sharapova V. M., Sharapova N. V. Problems in the implementation of the system of international financial reporting standards by Russian organizations. Business. Education. Law, 2022, no. 3, pp. 75—79. DOI: 10.25683/VOLBI.2022.60.340.