The Government of the Russian Federation has approved draft amendments to the law "On Auditing Activities", providing for the placement on the state information resource of the accounting statements of the Federal Tax Service of Russia of consolidated financial statements of companies that are required to compile them by law. Currently, only the annual accounts of legal entities are included in the register. This is stated in the message of the Ministry of Finance.
The collection of reports will be carried out through audit organizations that conduct mandatory audits of these reports. An audit report will be submitted to the information resource, to which the reporting itself is attached.
A mechanism is provided for the protection of information contained in the consolidated financial statements. The public dissemination of reports containing "sensitive" information is excluded.
Currently, access to consolidated financial statements is largely limited. Companies disclose it in various sources and often in a truncated form. This creates risks of making unjustified decisions, including on the provision of state support, assessment of its effectiveness, and payment of dividends, the Ministry of Finance emphasizes.
