08 June 2004 23:52
Over 1,100 banks to use IAS in 2004
MOSCOW. June 8 (Interfax) - More than 1,100 Russian banks will use international accounting standards for the first
time in 2004, Central Bank of Russia First Deputy Chairman Tatiana Paramonova said.
Russia's banking sector began its mandatory transfer to international accounting standards on January 1, 2004.
"This year is the first when Russian banks will change over to international accounting standards," Paramonova
said at a Tuesday conference on Russian accounting reforms.
Russian banks have to submit IAS reports for January-September 2004 and for all of 2004.
"More than 1,100 banks in the banking system today are preparing IAS reports, 200 banks are already voluntarily
providing such reports and several of these banks have been preparing them for over ten years," Paramonova said,
adding that the Central Bank has been using international accounting standards for four years. [RU ASIA EUROPE EEU EMRG
BNK ECI RES] rm me
[Interfax] |
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