The Round Table was of great interest among the invited representatives of state bodies, professional public organizations and academic circles, heads of accounting and financial services, auditors, appraisers and analysts.

It was announced at the Round Table that the scientific research work on the development of four accounting draft standards on cost accounting of natural resources development, estimated liabilities (contingent assets and contingent liabilities), cash flow statements, operating segments had been completed. The Round Table was opened by Igor Kozyrev, member of the Managing Board of the NOFA Foundation and the Chief accountant of Lukoil Joint Stock Company, who stressed that the development of the draft standards were aimed at introducing transparency and clarity into accounting process and requirements to information disclosure. Mr. Kozyrev also stressed the importance of the draft standards discussion by the professional community and the role assigned to the professional community in developing accounting principles in the existing accounting development concept.