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ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of June 11, 2015 No. 576

About approval of the Regulations on recognition of international standards of audit subject to application in the territory of the Russian Federation

(as amended on 31-12-2020)

According to part 1 of article 7 of the Federal law "About Auditor Activities" Government of the Russian Federation decides:

1. Approve the enclosed Regulations on recognition of international standards of audit subject to application in the territory of the Russian Federation.

2. This resolution becomes effective from the date of its official publication.

Russian Prime Minister

D. Medvedev

Approved by the Order of the Government of the Russian Federation of June 11, 2015 No. 576

Regulations on recognition of international standards of audit subject to application in the territory of the Russian Federation

1. This Provision establishes procedure for recognition of the international standards of audit accepted by the International federation of accountants, subject to application in the territory of the Russian Federation.

2. The structure of the documents containing international standards of audit which recognition subject to application in the territory of the Russian Federation is performed according to the procedure, established by this Provision, includes the following documents accepted by the International federation of accountants:

a) international standards of quality control;

b) international standards of audit of financial information;

c) international reports on practice of audit of financial information;

d) international standards of tasks on conducting survey checks;

e) international standards of the tasks providing confidence other than audit and survey checks of financial information;

e) international standards of the services accompanying audit;

g) other documents determined by the International federation of accountants as integral part of international standards of audit;

h) changes which are made to the documents specified in subitems "a" - this Item.

3. Recognition of international standards of audit applicable in the territory of the Russian Federation is understood as process of introduction of each document containing international standards of audit, in action in the territory of the Russian Federation, consisting in consecutive implementation of the following actions:

a) official obtaining from the International federation of accountants of the document containing international standards of audit;

b) examination of applicability of the document containing international standards of audit, in the territory of the Russian Federation (further - examination);

c) decision making about introduction of the document containing international standards of audit in action in the territory of the Russian Federation;

d) publication of the document containing international standards of audit.

Part of recognition of international standards of audit applicable in the territory of the Russian Federation is modification of the documents enacted in the territory of the Russian Federation according to this Provision containing international standards of audit.

Modification of the documents enacted in the territory of the Russian Federation according to this Provision containing international standards of audit provides amendment of such documents the separate provisions determining features of their application in the territory of the Russian Federation, and (or) withdrawal of separate provisions of such documents which applicability is in the territory of the Russian Federation not confirmed.

3(1). Need of modification of the document enacted in the territory of the Russian Federation according to this Provision containing international standards of audit is determined by the Ministry of Finance of the Russian Federation concerning each such document by results of generalization of practice of application of the legislation of the Russian Federation, including the documents enacted in the territory of the Russian Federation according to this Provision containing international standards of audit. Determination of such need is the basis for conducting examination of the document enacted in the territory of the Russian Federation according to this Provision containing international standards of audit with the offered changes.

4. The document containing international standards of audit is recognized subject to application in the territory of the Russian Federation if it corresponds to the bases of auditing regulation established by the legislation of the Russian Federation.

5. Applicable the documents containing international standards of audit in Russian in the territory of the Russian Federation are subject to recognition.

The Ministry of Finance of the Russian Federation provides official obtaining from the International federation of accountants of the translation into Russian of each document containing international standards of audit.

6. During examination each document containing international standards of audit for the purpose of confirmation of its applicability in the territory of the Russian Federation is considered.

The procedure for conducting examination is established by the Ministry of Finance of the Russian Federation.

7. Results of examination are drawn up in the form of the conclusion which contains one of the following conclusions:

a) applicability confirmation in the territory of the Russian Federation the document containing international standards of audit, in general;

b) applicability confirmation in the territory of the Russian Federation the document containing international standards of audit with withdrawal of separate provisions of this document which applicability cannot be in the territory of the Russian Federation confirmed, and (or) amendment of this document with the separate provisions determining features of its application in the territory of the Russian Federation;

c) conclusion about impossibility of confirmation of applicability in the territory of the Russian Federation the document containing international standards of audit, in general.

8. The cases provided by the subitem "b" of Item 7 of this provision in the conclusion containing conclusion about applicability confirmation in the territory of the Russian Federation of the document containing international standards of audit with withdrawal of separate provisions of this document which applicability cannot be in the territory of the Russian Federation confirmed and the subitem "v" of Item 7 of this provision, shall contain conditions under which applicability confirmation in the territory of the Russian Federation of the document (separate provisions of the document) containing international standards of audit is possible.

The case provided by the subitem "b" of Item 7 of this provision in the conclusion containing conclusion about applicability confirmation in the territory of the Russian Federation of the document containing international standards of audit with amendment by its separate provisions determining features of its application in the territory of the Russian Federation shall contain assessment of justification of such amendment.

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