On December 18, 2007 the NOFA Foundation organized the Round table «The first results of International Accounting Standards enforcement abroad». The main speaker was Tatiana Krilova, the member of the Managing Board of the NOFA Foundation. Tatiana Krilova introduced to the Round Table participants the draft of the review document «The first results of International Accounting Standards enforcement abroad». On December 18, 2007 the NOFA Foundation organized the Round table «The first results of International Accounting Standards enforcement abroad». The main speaker was Tatiana Krilova, the member of the Managing Board of the NOFA Foundation. Tatiana Krilova introduced to the Round Table participants the draft of the review document «The first results of International Accounting Standards enforcement abroad». Tatiana Krilova, the member of the Managing Board of the NOFA Foundation Tatiana Krilova presented an interesting analytical report, outlining the experience of IAS implementation in the Russian Federation and around the world. This report demonstrated the analysis of the history of the subject. Furthermore, the review of the main tendencies of the IAS enforcement process was also discussed. Finally, the main aspects and the problems of the practical enforcement of IAS at the national level were also considered (strategy, institutional problems, legal regulation, technical expertise and training) Moreover, Tatiana Krilova emphasized that in line with the recognition of the beneficial aspect of IAS application, deepens the understanding of the complexity of the process of the financial statements harmonization and that its successful realization demands the creation of the adequate institutional system, regulation mechanisms and implementation process monitoring. Mikhail Orlov, Chairman of the Management Board of the NOFA Foundation Mikhail Kiselyov, the Chairman of the National Accounting Standards Board of the NOFA Foundation The second part of the Round table was devoted to the problems of implementation of IAS in the Russian Federation. This question raised an active discussion, during that discussion the emphasis was made regarding application of IAS by SMEs. Besides that, the participants of the Round table expressed their concern regarding the problem of interpretation of the standards when translating them into Russian. The educational aspect of the IAS enforcement in the Russian Federation was also stressed as an important issue. The discussion at the Round table illustrated that the current issue of IAS implementation in the Russian Federation is one of the most prominent ones nowadays and requires further analysis by the representatives of the state organizations and other professionals and experts.