FEDERAL LAW OF THE RUSSIAN FEDERATION

of December 30, 2020 No. 498-FZ

About introduction of amendments to the Federal law "About Auditor Activities"

Accepted by the State Duma on December 16, 2020

Approved by the Federation Council on December 25, 2020

Bring in the Federal Law of December 30, 2008 No. 307-FZ "About auditor activities" (The Russian Federation Code, 2009, No. 1, Art. 15; 2010, No. 27, Art. 3420; 2011, No. 29, Art. 4291; 2013, No. 27, Art. 3477; 2014, No. 10, Art. 954; No. 49, Art. 6912; 2017, No. 18, Art. 2673) following changes:

1) in Article 7:

a) state part 3 in the following edition:

"3. The code of professional ethics of auditors - the set of rules of behavior containing the principles of professional ethics, the main requirements to ensuring compliance with such principles, measures for ensuring compliance with such principles by auditing organizations, auditors and obligatory for observance by auditing organizations, auditors when rendering auditor services (participation in rendering auditor services) and the other services (participation in rendering such services) connected with auditor activities.";

b) add with part 3.1 following of content:

"3.1. The code of professional ethics of auditors is drafted on the basis of the code of ethics of professional accountants accepted by the International federation of accountants.";

2) in Article 8:

a) the paragraph one of part 1 to state in the following edition:

"1. When rendering auditor services (participation in rendering auditor services) the auditing organization, the auditor shall be independent and follow rules of independence of auditors and auditing organizations. For the purposes of this Federal Law independence of auditing organization, the auditor is understood as lack of the relations of coherence (affiliation) based on property, related or other dependence of auditing organization, the auditor on the audited face, his founders (participants, shareholders), heads and other officials, other persons, in the cases provided by this Federal Law, other Federal Laws, rules of independence of auditors and auditing organizations. Audit cannot be performed:";

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