Changes in legislation

The Federal Law dated December 31, 2021 No. 435-FL has amended the Laws “On accounting” and “On auditing” concerning the procedure of entering the data into the State Information Resource of Financial Accounts (GIRBO) and access to them.

In particular:

• the restrictions were put on the list of cases of exemption from reporting established by the Government of Russia;
• the powers of the Government of Russia were specified in relation to the determination of limited access to the data in GIRBO. It is referred to the cases when only state authorities, local government bodies, state non-budgetary funds and the Central bank of Russia have access to these data;
• the mandatory soft copy of the reports must be submitted within 3 months following the end of the reporting period;
• in case of provision the repot being subject to the mandatory audit, the soft copy of the audit report must be provided either along with the financial accounts or within 10 working days from the day following the date of the audit report, but no later than December 31 of the year following the reporting year;
• the common term was specified for providing the corrected reports – no later than July 31 of the year following the reporting year. If the report is approved after that date and is different from the previously provided one, it must be submitted to GIRBO within 10 working days from the day following the day of approval of the reporting, but no later than December 31 of the year following the reporting one;
• зthe delivery of information contained in GIRBO is subject to a charge at the amount and the procedure determined by the Government of Russia.

The subscribers of Globas have an option to get acquainted and analyze the accounting reports (including the archived once traced back to 1997) of all legal entities of the Russian Federation that have submitted them to the Federal State Statistics Service and the Federal Tax Service.