A delegation of the Ministry of Finance and the NOFA Foundation participated in the IX meeting of the Financial Accounting Coordination Council of the CIS Executive Committee held in Baku (Azerbaijan) on October 4-5, 2012. The meeting was focused on the issues of settlement of accounting and auditing activity in CIS country-members. The members of the Coordination Council have confirmed their adherence to the cause of reforming their national accounting and audit systems on the basis of international financial reporting and international audit standards. A special attention was paid to accounting and reporting issues of nongovernmental and non-for-profit organizations, arranging a persistent scheme of translating international standards into Russian, mutual recognition of national certification of accounting specialists and measures to support national audit organizations. The participants of the meeting discussed ways to promote further cooperation in this field. Director of the NOFA Foundation Irina Krasilnikova took part in the meeting and informed the participants about the activity of the NOFA Foundation and the process of arranging official IFRS translation into Russian. The meeting of the Coordination Council passed a resolution which is to be published on Minfin’s web-site (http://www.minfin.ru/) in the section “Accounting and Auditing”. The next meeting of Coordination Council will be held in 2013.