• Official Russian translation of IFRS
• Official examination of applicability of IFRS, preceding the IFRS endorsement in Russia
• Comments on IFRS projects

The NOFA Foundation is engaged in extensive activities related to International Financial Reporting Standards (IFRS).

Under the agreement with IFRS Foundation, the Foundation carries out the official Russian translation of IFRS and Conceptual Framework for Financial Reporting.

According to agreement with the Russian Ministry of Finance, the NOFA makes the official examination of applicability of IFRS, preceding the IFRS endorsement in Russia.

The NOFA is also involved in the discussion of innovations in IFRS, proposed by the International Accounting Standards Board (IASB) and IFRS Interpretations Committee, through the submission of the comment-letters representing a consolidated opinion of the Russian accounting professionals.

The IFRS Foundation is an independent, not-for-profit private sector organisation working in the public interest.

The objective of IFRS Foundation is to develop a single set of high quality, understandable, enforceable and globally accepted financial reporting standards based upon clearly articulated principles.

Official website of the IFRS Foundation: www.ifrs.org