Accounting, Payroll, Tax & Legal since 1989

Planning of annual audits starts in Russia

The calendar year constitutes the financial year for companies operating in Russia. As the calendar year ends in less than 3 months, it´s time for companies to begin planning the annual audit for their accounts for the 2021 financial year.

 

Auditing financial statements for the 2021 financial year is mandatory for organizations who in 2020:

-       Had income of over 800 million rubles according to their tax statements;

-       Had on their balance sheets total assets exceeding 400 million rubles.

 

Auditing financial statements for FY 2021 is to be completed until the end of 2022. It´s worth noting though that February-May is the high season for audits, and during that time they cost more than in June-December.

 

Considering a proactive audit for your organization may be worth it even if you do not currently meet the criteria for mandatory audits. This is especially the case if your company plans to grow and exceed those criteria in the future, or if you have some doubts about your current accounting practices.

 

Leinonen does not provide audit services in Russia, as we are focused on accounting services and outsourced payroll services. However, if you are interested in audits feel free to contact us and for recommendations.


21.10.21


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