IFRS reporting


IFRS reporting

International Financial Reporting Standards (IFRS) - is a common set of rules, regulating the preparation of financial statements of the company.

First of all, reporting in accordance with IFRS is necessary for those who:

  • plan to raise foreign capital;
  • want to receive a credit, for example, from the European Bank for Reconstruction and Development (EBRD);
  • seek to attract foreign investors, investments of foreign origin;
  • intend to go for an IPO;
  • are expanding the boundaries of its business and has set out to spread its product on international markets.

According to the Federal Law № 208-FZ "On Consolidated Financial Statements", consolidated financial statements in accordance with IFRS should be published:

  • by credit institutions;
  • by insurance companies;
  • by other companies, the securities of which are admitted to organized trading by including them into quotation lists, starting from reporting for 2012.

International Reporting Standards provide an accurate recording of a company's financial position, enabling management to make decisions effectively.

Who needs to report under IFRS and when?


  • foreign investors and shareholders;
  • foreign and Russian banks. Availability of IFRS reporting is considered a prerequisite for granting loans and reducing risks, which makes it possible to analyze the financial situation of the company in accordance with international standards;
  • counterparties.
In order to:

  • inform them about the true financial condition of the company;
  • obtain a loan (as a rule, in these cases, banks also reduce the interest rate on the loan by 2-3%);
  • participate in tenders. In many cases the presence of IFRS reporting is a mandatory condition in order to verify the reliability of the supplier.

Mainstay company has been operating since 1989. During this period we have gained considerable experience in preparing accounts for IFRS. We enjoy a good reputation with international banks and financial institutions such as the European Bank for Reconstruction and Development (EBRD) and the International Finance Company (IFC).

Our specialists will provide you with all the necessary support in the transition to international reporting standards and prepare a full package of IFRS and US GAAP documents.

Our services:

  • transition to IFRS;
  • first time adoption of IFRS;
  • assistance in preparation of IFRS reporting;
  • development of accounting policies under IFRS;
  • automation of accounting under IFRS;
  • training in theory and practice of IFRS;
  • completion of IFRS consolidation packages.

Whatever functions of your financial service you delegate to us, you can be sure of the quality and competence of our specialists. We are aware of the commercial importance of choosing the right partner and in order to avoid unpleasant surprises in the future we always stipulate the scope of work and all terms of cooperation before preparing a quotation.

Рената Плотникова

Renata Plotnikova

Director of Business Support