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Audit in Russia

The Russian Law requires that the following entities have their accounting records fully audited by a licensed auditor (article 5 of the Russian Audit Law): Joint stock companies (OAO). Banks, credit or insurance companies, mutual insurance associations, clearing agencies, commodity and stock exchanges, incorporated investment funds, non-budgetary state funds, holding/management companies of investment funds, unit...
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The government plans to allow B2B payments with electronic money

According to the project, it will be possible to send B2B transfers through corporate electronic instruments of payment (wallets). Individual Entrepreneurs will also be able to use this opportunity. Now companies and individual entrepreneurs can receive electronic money, but they can send it only to individuals. Thus, the specified transfers between legal entities are prohibited....
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The Ministry of Finance proposes to introduce tough penalties for non-submission of accounting

From 2020 the FTS will form and support a special accounting base. The Code of Administrative Offenses of the Russian Federation will reflect the responsibility for late submission of reports, it’s incomplete presentation and violation of the submission procedure through this information resource. Now responsibility for late submission of reports is established only in the...
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