The International Congress “Development of IFRS-based accounting in Russia” was held in Moscow on December 8-9, 2011. The Congress was organized by the Foundation “National Organization for Financial Accounting and Reporting Standards” (NOFA Foundation) and the Institute of Professional Accountants of Russia and sponsored by the Ministry of Finance of the Russian Federation. The Congress involved participation of business and professional community of Russia, representatives of state bodies and professional organizations of CIS country-members as well as France, Italy, Romania and other countries. The discussion at the Congress was focused on the most important issues of IFRS-based accounting development, improvement of accounting and audit regulating system, participation of the Russian Federation in the activity of the IASB and the International Federation of Accountants (IFAC), upgrading of accounting and audit specialists. Igor Kozyrev, the Chairman of the Managing Board of the NOFA Foundation welcomed the participants of the Congress. The Round Table devoted to the development of IFRS-based accounting in Russia and experience of nongovernment accounting regulating was held in the framework of the Congress. Askold Birin, the Chairman of the National Accounting Standards Board who was a moderator at the Round Table spoke of the problems of interaction of professional community and users of IFRS reporting. The Head of the Russian office of the Association of Charted Certified Accountants Ilia Yufirev and the Committee Chairman of the Institute of the Professional Accountants Daniil Prokopovich were among the speakers of the Round Table.