The “National Organization for Financial Accounting and Reporting Standards” Foundation and the Non Profit Partnership “Russian Audit Chamber” has completed an agreement about strategic partnership. The “National Organization for Financial Accounting and Reporting Standards” Foundation and the Non Profit Partnership “Russian Audit Chamber” has completed an agreement about strategic partnership. The agreement was signed by Director of the NOFA Foundation Irina Krasilnikova and President of the NP “Russian Audit Chamber” Boris Sokolov. The NOFA Foundation and the NP “Russian Audit Chamber” aim at developing cooperation in a number of areas: - development and improvement of accounting and financial reporting regulation system in Russia based on the best world experience; - popularization of advanced world practice in accounting and financial reporting; - participation at International Financial Reporting Standards development, elaboration and improvement of national financial reporting standards and accounting statutes; - arrangement of joint projects in development and improvement of accounting and reporting in Russia; joint holding of explanatory, research and education activities; - implementation of training and educational programs in accounting and financial reporting; holding of joint activities in programs improvement of special and thematic courses for accountants and auditors. The NOFA Foundation is a non-government organization bringing together representatives of all the professions relating to the preparation, audit and use of financial statements, as well as representatives of regulators. It was established in 2003. Main lines of activities of the NOFA Foundation are as follows: development of amendments to Russian legislation for providing a possibility for creation and functioning of high quality financial reporting standards; development of national standards system with a view of achieving their compliance with IFRS; participation at IFRS development process, formation of Russian users’ consolidated position with respect to IFRS and supporting this position in the IASB; supporting educational programs for accountants and auditors. The NP “Russian Audit Chamber” is a professional association, members of which represent regional professional unions of auditors, where operate from dozens up to hundreds and more of companies and audit firms, certified auditors, acting without formation of the juridical person, higher educational establishments of the country – Russian Academy of Civil Service under the President of the Russian Federation, Plekhanov Russian Academy of Economics, Academy of Budget and Treasury of the Ministry of Finance of the Russian Federation. Members of the NP “Russian Audit Chamber” carry out audit, appraisal, financial analysis at entities and organizations of the key industries and consult their clients about the wide range of questions concerning economy and finances. The NP “Russian Audit Chamber” has a wide representation in different regions of the Russian Federation. Its members are registered in more than 60% subjects of the Russian Federation.