Transcript Виденье дальнейшего развития бухгалтер

Directions of financial
reporting quality
improvement
Danil Prokopovich
FCCA, CGA, CIPA, auditor,
Chairman of the Committee on international reporting
standards of the IPAR,
Member of the National accounting standard board of the
NOFA Foundation
Directions
• Building financial reporting infrastructure
at a country level.
• Application of IFRSs at company level.
• Role of professional accountant and
professional bodies.
2
Integration of IFRS reporting
into legal system
• The definition used in IFRS are economic, not legal.
• Allow parallel system of accounting definition,
without convergence with legal system of a country.
• Use of IFRS reports for actions that are relevant in
law:
– dividends payments,
– court decisions,
– bankruptcy, etc.
3
Increased understanding from
business
• Understanding of purpose of financial statements.
• Understanding the benefits of IFRS financial
statements.
• Integration in management and decision-making
process.
• Use of structured deals.
• Understanding the ”Substance over form” concept.
• Building of internal controls and acceptance of
responsibility.
4
Direction at a company level
• Convergence with other economic information
within a company.
• Effective and efficient system of economic
information flows.
• Adopt opting the IFRSs for national
accounting.
• Develop the personnel (recruiting, training).
5
Role of professional accountant
• Learn:
– to make estimates and judgments,
– to analyze the substance of transactions.
– to apply “materiality” and “costs-benefits”
concepts,
– to prepare financial statements on a timely basis.
• Ensure consistency of information and methods.
• Maintain high adherence to professional ethics.
• Continue professional development.
6
Controlling infrastructure
• Implementation of internal controls.
• Faithfull audit infrastructure.
–including: relevant auditing standards,
quality control, certification of
auditors, etc.
• Additional governmental control (for
companies of a public interest).
7
Role of professional bodies
• Encourage high professionalism of members:
– support constant development and learning,
adherence to ethics, etc.
• Provide methodological support.
• Make studies on current and perspective issues.
• Participate in or initiate public discussions.
• Distribute the best practices.
• Interacts with regulators, investors, public.
8
Questions, comments,
opinions?
9