Information agency Credinform represents a ranking of the largest construction companies having a potential opportunity to carry out a tax monitoring. The companies engaged in construction of buildings and structures meeting the new criteria for tax monitoring with the largest volume of annual revenue (TOP-10 and TOP-100) were selected for the ranking, according to the data from the Statistical Register and the Federal Tax Service for the latest available periods (2017 - 2019). They were ranked by the ratio of assets and liabilities (Table 1). The selection and analysis was based on the data of the Information and Analytical system Globas.

Liabilities to assets ratio shows the share of assets financed by loans. The standard value for this ratio is from 0.2 to 0.5

Sales revenue and net profit show the scale of the company and the efficiency of its business, and the ratio of liabilities and assets indicates the risk of insolvency of the company.

Exceeding the upper standard value indicates excessive debt load, which can stimulate development, but negatively affects the stability of the financial position. If the value is below the standard value, this may indicate a conservative strategy of financial management and excessive caution in attracting new borrowed funds.

In order to get the most comprehensive and fair picture of the financial standing of an enterprise it is necessary to pay attention to all combination of indicators and financial ratios.

Table 1. Net profit, revenue, ratio of liabilities and assets, solvency index Globas of the largest Russian construction companies (TOP-10)

Name, INN, region	Revenue, million RUB		Net profit (loss), million RUB		Ratio of liabilities and assets (x), from 0,2 to 0,5		Solvency index Globas
	2018	2019	2018	2019	2018	2019
1	2	3	4	5	6	7	8
MONARCH INN 7714950480 Moscow	18 910	17 436	127	116	0,95	0,98	233 Strong
OOO MIP-STROI #1 INN 7701394860 Moscow	56 995	53 932	10	99	0,98	0,98	272 Medium
JSC PIK-Industries INN 7729755852 Moscow	26 948	44 616	1 792	1 263	1,01	0,98	275 Medium
RENAISSANCE HEAVY INDUSTRIES LLC INN 7802772445 Moscow	37 662	42 884	4 732	2 079	0,83	0,94	245 Strong
Fodd INN 7729355935 Moscow	19 640	23 853	262	314	0,97	0,92	176 High
JSC VOSTOKNEFTEZAVODMONTAZH INN 0277015293 Republic of Bashkortostan	11 047	18 231	82	405	0,89	0,88	208 Strong
PIK GROUP INN 7713011336 Moscow	25 343	24 572	15 137	306	0,74	0,75	233 Strong
RENAISSANCE CONSTRUCTION LTD INN 7708185129 Moscow	44 512	25 720	1 290	2 676	0,94	0,74	201 Strong
OOO ENERGO-STROI INN 7801174139 Saint Petersburg	8 713	24 118	229	1 640	0,92	0,74	171 Superior
LENSPETSSMU INN 7802084569 Saint Petersburg	15 270	17 182	4 374	6 441	0,68	0,71	217 Strong
Average value for TOP-10	26 504	29 254	2 804	1 534	0,89	0,86
Average value for TOP-100	8 802	7 789	30	-289	0,81	0,81

growth of indicator to the previous period, decrease of indicator to the previous period

The average indicator of the ratio of liabilities and assets of TOP-10 and TOP-100 is above the standard value. Indicators of six companies show the positive dynamic to move toward the standard value in 2019.

Picture 1. Ratio of liabilities and assets, and revenue of the largest construction companies (TOP-10)

Over the past 6 years, the industry average values of the ratio of liabilities and assets of TOP-100 have a positive trend to move toward the standard value (Picture 2).

Picture 2. Change in the industry average values of the ratio of liabilities and assets of the TOP-100 largest construction companies in 2014 – 2019

The Federal Law dated 29.12.2020 No. 476-FZ introduced the amendments to the Law «On audit activities» concerning the conditions for the mandatory audit of financial statements.

According to the amendments, starting from January 1, 2021, the financial indicators below, exceeding the threshold values of which is the basis for conducting the mandatory audit, were increased:

- revenue - from 400 to 800 million RUB;

- assets of the balance sheet - from 60 to 400 million RUB.

Thus, the opportunities for accounting under the simplified procedure by small businesses that have this right are expanded, with the exception of companies with the indicators listed above.

In addition, nonprofit organizations are exempt from the mandatory audit if at least one of the following conditions is met:

• compliance with the above limits on revenue and assets of the balance sheet;
• founded as funds with property, including cash, not exceeding 3 million RUB;
• nonprofit organizations which are consumer cooperative societies, the activities of which are regulated by the Federal Law dated 19.06.1992 No. 3085-1 "On consumer cooperation (consumer societies, their unions) in Russian Federation".

According to data of the Information and Analytical system Globas, in Russia, there are more than 6 thousand small businesses that meet the updated financial criteria for conducting the mandatory audit of 2019 financial statements.