The NOFA Foundation received from the Ministry of Finance of the Russian Federation the document "Conceptual Framework for Financial Reporting" for carrying out applicability expertise of IFRSs in the territory of Russia.

Expertise will be carried out in the terms determined by the Provision on recognition of International Financial Reporting Standards and Interpretations of International Financial Reporting Standards for application in the territory of the Russian Federation, approved by resolution of the government of the Russian Federation of February 25, 2011 No. 107, and also by the relevant agreement concluded between the Ministry of Finance of the Russian Federation and IASB.