Subject. The article addresses the main provisions of the State policy in the field of accounting, financial reporting and auditing until 2030. Objectives. The aim is to consider regulation principles of the public policy for accounting, financial reporting, and auditing activities. Methods. The study draws on the Conceptual Framework for Financial Reporting (2018), the concepts of integrated reporting and consolidated accounting, and consolidated financial statements. Results. As part of the analysis of provisions of the Decree of the Government of the Russian Federation № 2386-р, we made an assumption that it is rather difficult and to a small extent advisable to carry out the reform of accounting, financial reporting, and auditing activities entirely at the national level. This contradicts not only the international practice of developing these areas, but also the content of the aforementioned decree of the Government of the Russian Federation, which contains a direct reference to the use of IFRS, not to mention an audit based only on International Standards on Auditing. Conclusions. Unfortunately, the Russian Government's Decree № 2386-р lacks provisions concerning the analysis of financial statements, which is taking an increasing place in economic decision-making. Not all professional accountants and auditors are able to understand the client's balance sheet and understand the significance of certain indicators. That is why financial analysts are increasingly involved in this work.
Keywords: reform of accounting, financial reporting and auditing, reform methodology, regulatory impact of government policy
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