OREANDA-NEWS. July 12, 2012. The regular meeting of the Finance Services Section of the Russian Institute of Internal Auditors (IIA), organized with the assistance of the FBK took place. The staple topic of the discussion was the recent changes in taxation field, as well as current issues of tax audit, reported the press-centre of FBK. 

Oleg Matveyev The Deputy Director of the Bank Audit Department of FBK gave the report "On evaluation of tax risks and audit of the compliance of financial institutions with legislative and regulatory requirements in the transfer prices sector" at the meeting. In particular, he emphasized that a new section on transfer prices has appeared in the Internal Revenue Code. This section contains a description of new accounting and pricing control procedures, as well as the criteria for labeling transactions as controlled. Companies that make the controlled transactions should arrange their records and perform the procedure package to confirm the justification of price formation for such transactions, said Matveev.

Representatives of leading Russian and International Financial Institutions took part at the meeting.