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FEDERAL LAW OF THE RUSSIAN FEDERATION

of December 30, 2008 No. 307-FZ

About auditor activities

(as amended on 30-12-2020)

Accepted by the State Duma on December 24, 2008

Approved by the Federation Council on December 29, 2008

Article 1. Auditor activities

1. This Federal Law determines the legal basis of auditing regulation in the Russian Federation.

2. Auditor activities (auditor services) - the activities for carrying out audit and rendering the services accompanying audit performed by auditing organizations, individual auditors. The checks performed according to requirements and according to the procedure, other than the requirements and procedure established by standards of auditor activities do not belong to auditor activities.

3. Audit - independent verification of accounting (financial) records of the audited face for the purpose of expression of opinion on reliability of such reporting. For the purposes of this Federal Law the accounting (financial) records of the audited face are understood as the reporting (or its part) provided by the Federal Law of December 6, 2011 No. 402-FZ "About financial accounting" or other regulatory legal acts published according to it, the similar reporting on structure (or its part) provided by other Federal Laws or other regulatory legal acts published according to them and also other financial information.

4. Types of auditor services, including the list of the services accompanying audit, are established by the federal executive body performing functions on development of state policy and normative legal regulation in the sphere of auditor activities (further - authorized federal body).

5. Auditor activities do not substitute the control of reliability of accounting (financial) records exercised in accordance with the legislation of the Russian Federation by authorized state bodies and local government bodies.

6. Auditing organizations, individual auditors (the individual entrepreneurs performing auditor activities) have no right to be engaged in any other business activity, except carrying out audit and rendering the services provided by this Article.

7. Auditing organizations, individual auditors along with auditor services can render the other services connected with auditor activities, in particular:

1) statement, recovery and financial accounting, creation of accounting (financial) records, accounting consultation;

2) tax consultation, statement, recovery and conducting tax accounting, creation of tax calculations and declarations;

3) ceased to be valid according to the Federal Law of the Russian Federation of 01.12.2014 No. 403-FZ

4) the managerial consultation connected with financial and economic activities including concerning reorganization of the organizations or their privatization;

5) legal aid in the areas connected with auditor activities including consultations according to legal issues, representation of interests of the principal in civil and administrative legal proceedings, in tax and customs legal relationship, in public authorities and local government bodies;

6) automation of financial accounting and implementation of information technologies;

7) estimative activities;

8) development and analysis of investment projects, creation of business plans;

9) carrying out research and experimental works in the areas connected with auditor activities and distribution of their results, including on paper and electronic media;

10) training in the areas connected with auditor activities.

8. Audit of accounting (financial) records of the audited face which accounting and financial documentation contains the data which are the state secret is performed in accordance with the legislation of the Russian Federation.

Article 2. The legislation of the Russian Federation and other regulatory legal acts which regulate auditor activities

Auditor activities are performed according to this Federal Law, other Federal Laws and other regulatory legal acts which govern the relations arising when implementing auditor activities.

Article 3. Auditing organization

1. Auditing organization - the commercial organization which is the member of one of self-regulatory organizations of auditors.

2. The commercial organization acquires the right to perform auditor activities from the date of entering of information about her into the register of auditors and auditing organizations of self-regulatory organization of auditors (further - the register of auditors and auditing organizations) which member such organization is.

3. The commercial organization, data on which are not entered in the register of auditors and auditing organizations within three months from the date of entering of record about it into the Unified State Register of Legal Entities having no right to use in the name the word "auditor", and also derivative words from the word "audit".

Article 4. Auditor

1. The auditor - the physical person who received the competence certificate of the auditor and being the member of one of self-regulatory organizations of auditors.

2. The physical person is recognized the auditor from the date of entering of information about him into the register of auditors and auditing organizations.

3. The auditor who is the employee of auditing organization based on the employment contract between it and the auditing organization having the right to participate in implementation of auditor activities by auditing organization, and also in rendering other services, the stipulated in Article 1 present of the Federal Law.

4. The individual auditor has the right to perform auditor activities, and also to render other services according to article 1 of this Federal Law if other is not provided by this Federal Law.

Article 5. Statutory audit

1. Statutory audit of accounting (financial) records is booked in the cases established by the Federal Laws and also concerning accounting (financial) records:

1) the organizations which securities are admitted to organized trading;

2) the organizations, being professional participants of the security market, bureau of credit histories;

3) the organizations having form of business of fund (except for state non-budgetary fund, the specialized organization of management of the target capital and the fund having the status of the international fund according to the Federal Law of August 3, 2018 No. 290-FZ "About the international companies and the international funds") if receipt of property, including money, in the year which was directly preceding accounting year exceeds 3 million rubles;

4) the organizations (except for public authorities, local government bodies, the public and local government offices, state and municipal unitary enterprises, agricultural cooperatives, the unions of these cooperatives, the organizations of consumer cooperation, performing the activities according to the Law of the Russian Federation of June 19, 1992 No. 3085-1 "About consumer cooperation (consumer societies, their unions) in the Russian Federation") corresponding at least to one of the following conditions:

a) income gained from implementation of business activity which is determined according to the procedure, established by the legislation of the Russian Federation on taxes and fees in the year which was directly preceding accounting year constitutes more than 800 million rubles;

b) the amount of balance sheet assets as of the end of the year, directly preceding accounting year, constitutes more than 400 million rubles.

2. Statutory audit is booked annually.

3. Statutory audit of accounting (financial) records of the organizations which securities are admitted to organized trading of other credit and insurance companies, non-state pension funds, the organizations in which authorized (share) capital the share of state-owned property constitutes at least 25 percent, the state corporations, state-owned companies, the public companies, and also the accounting (financial) records included in the avenue of securities, and consolidated financial statements is carried out only by auditing organizations.

4. The contract for carrying out statutory audit of accounting (financial) records of the organization in which authorized (share) capital the share of state-owned property constitutes at least 25 percent and also for carrying out audit of accounting (financial) records of the state corporation, state-owned company, public company, state unitary enterprise or municipal unitary enterprise consists by results of carrying out at least once in five years of open tender according to the procedure, established by the legislation of the Russian Federation on contractual system in the sphere of purchases, goods, works, services for ensuring the state and municipal needs, at the same time establishment of the requirement to providing bids and (or) to ensuring execution of the contract is not obligatory.

5. In open tender on the conclusion of the auditing contract of accounting (financial) records of the organization, total revenue from sale of products (sales of goods, performance of works, rendering services) which in the year previous reporting does not exceed 1 billion rubles, participation of the auditing organizations which are subjects of small and medium business is obligatory.

6. Data on results of statutory audit are subject to entering into the Unified federal register of data on the facts of activities of the legal entities by the audit client with indication of in the message of the audited face identifying the audited face of data (identification taxpayer number, the primary state registration number for legal entities, the insurance number of the individual ledger account in case of their availability), the names (surnames, name, middle name) the auditor identifying the auditor of data (identification taxpayer number, the primary state registration number for legal entities, the insurance number of the individual ledger account in case of their availability), the list of accounting (financial) records concerning which audit, the period for which it is constituted of date of the conclusion, opinion of auditing organization, the individual auditor about reliability of accounting (financial) records of the audited face with indication of circumstances was booked, which have or can have significant effect on reliability of such reporting, except as specified, if the data which are subject to disclosure according to this part are the state secret or trade secret, and also in other cases established by the Federal Law.

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