This report aims to improve corporate governance in Russia, which is recognised as essential for the creation of sound companies, financial market integrity and an attractive business climate. Corporate transparency is a particularly important component of good governance through the protection of individual and institutional shareholders. Shareholders and potential investors require accurate and timely information in order to make well-considered economic decisions. IFRS address these requirements.
The introduction of IFRS in Russia will bring important benefits for a range of stakeholders; these benefits outweight the costs. The Russian Corporate Governance Roundtable's ad hoc Task Force on Implementing IFRS has identified 25 recommendations to help propel Russia's transition to IFRS and that participants have committed to support and promote. The report is intended for use by the government, private institutions and other stakeholders committed to the introduction of IFRS in Russia.