OREANDA-NEWS. September 01, 2010. At the meeting of the Board of Guardians of NSFO Foundation, there was adopted program of Foundation activities for 2010 and there was selected a new Chairman of the Board for Financial Reporting Standards. Askold Birin, Director of FBK International Reporting Department was appointed the Board Chairman, under unanimous consent, reported the press-centre of FBK.  

According to Mr. Birin “to run the Board is a task of great responsibility. The Board comprises representatives of audit market leaders and major reporting drawers. I hope we will manage to work efficiently and to represent position of Russian professional community in communications with IASB.FBK is known for its engagement in a number of projects prompting rapprochement of Russian and International Financial Reporting Standards”.

NSFO Foundation (“National Organization for Standards of Financial Accounting and Reporting”) was established in October 2003 to assist in implementing in RF economic activities recognized and globally applied forms, regulations and standards of financial accounting and reporting within supporting integration of the Russian Federation into global economic space.

Top-priority tasks of the Foundation are elaborating of draft legislations providing opportunities for establishment and operation of quality standards of financial reporting, elaboration of set of national standards to achieve their compliance with IFRS, generation of consolidated position of Russian users in terms of IFRS etc.