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⍰ ASK What role do accounting standards play for offshore companies in Russia?

cryptohunter

cryptohunter

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Offshore companies in Russia must follow either Russian accounting standards (RAS) or International Financial Reporting Standards (IFRS) based on their structure.

Complying with these standards ensures accurate financial reporting, enhancing transparency and global transactions. Adopting IFRS can boost credibility globally. Following standards helps navigate regulations, demonstrating local law compliance.

These also aids in comparing financial data across jurisdictions supporting stakeholders decisions.
 

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