On October 29, 2014, Igor Kozyrev, Chairman of the Management Board of the NOFA Foundation and Irina Krasilnikova, Director of the NOFA Foundation took part in a round table "Enhancing prestige of the auditor profession". The round table was organized by the Council for audit activity, the Ministry of Finance of the Russian Federation and the Research Financial Institute. About 30 representatives of audit organizations, business community, the self-regulating organizations of auditors and the higher school participated in the event.

Participants of the round table spoke about the tendency of lowering of prestige of the auditor profession that emerged some time ago. Among the indicators of this tendency there were listed a reduction of the number of members of the self-regulating organizations of auditors, lowering of interest of university graduates in passing the auditor qualification exam, lower growth rates of the scope of services rendered by audit organizations. At the same time many experts expressed doubts whether prestige of the auditor profession is lowering as they consider the above mentioned issues as those which are naturally arising in development of any professional activity in a concrete economic situation.

In the course of discussion, Igor Kozyrev, the Chairman of the Board of the Foundation noted that the prestige of the auditor profession is inseparably linked with a demand for financial statements of the Russian organizations and in many respects is defined thereby. In this regard expansion of application of International Financial Reporting Standards has essential value in the practice of preparation of the financial statements in Russia.

Participants of the round table discussed possible ways of enhancing of prestige of the auditor profession. First of all, they considered measures which could be taken by the self-regulating organizations of auditors and authorized federal executive authorities. These measures include active communication and consulting work with business community, improved interaction of the self-regulating organizations of auditors with business associations, enhanced participation of auditors in the solution of the major economic tasks, strengthening of the self-regulating organizations of auditors, improvement of the organization of accounting profession, improvement of quality of services rendered by auditors.

It is expected that based on the results of the discussion, proposals for the Council of audit activity will be prepared.