INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of October 2, 2024 No. 6891-U

About procedure for reflection on accounts of financial accounting of error corrections by not credit financial credit institutions, bureau of credit histories, credit rating agencies

This Instruction based on part 6 of article 21 of the Federal Law of December 6, 2011 No. 402-FZ "About financial accounting" establishes procedure for reflection on accounts of financial accounting of error corrections by not credit financial credit institutions, bureau of credit histories, credit rating agencies.

1. The concept "materiality" is applied in this Instruction in the value established by the International accounting standard (IAS) 1 "Accounts presentation" <1>.

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<1> No. 217n "About introduction of International accounting standards and Explanations of International accounting standards in action in the territory of the Russian Federation and about recognition voided some orders (separate provisions of orders) of the Ministry of Finance of the Russian Federation" is enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation of December 28, 2015 (it is registered by the Ministry of Justice of the Russian Federation on February 2, 2016, registration No. 40940) with the changes made by the order of the Ministry of Finance of the Russian Federation of July 11, 2016 No. 111n "About enforcement and cancellation of documents of International accounting standards in the territory of the Russian Federation" (registration No. 43044) (further - the order of the Ministry of Finance of the Russian Federation No. 111n is registered by the Ministry of Justice of the Russian Federation on August 1, 2016), with amendments, enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation of June 27, 2016 No. 98n "About introduction of documents of International accounting standards in action in the territory of the Russian Federation and about recognition voided some orders of the Ministry of Finance of the Russian Federation" (registration No. 42869) is registered by the Ministry of Justice of the Russian Federation on July 15, 2016, the order of the Ministry of Finance of the Russian Federation No. 111n, the order of the Ministry of Finance of the Russian Federation of June 4, 2018 No. 125n "About introduction of the document of International accounting standards in action in the territory of the Russian Federation" (registration No. 51396) is registered by the Ministry of Justice of the Russian Federation on June 21, 2018, the order of the Ministry of Finance of the Russian Federation of October 30, 2018 No. 220n "About introduction of the document of International accounting standards in action in the territory of the Russian Federation" (registration No. 52703) is registered by the Ministry of Justice of the Russian Federation on November 16, 2018, the order of the Ministry of Finance of the Russian Federation of August 5, 2019 No. 119n "About introduction of the document of International accounting standards "Materiality determination (Amendments to IFRS (IAS) 1 and IFRS (IAS) 8" in action in the territory of the Russian Federation" (registration No. 56149) is registered by the Ministry of Justice of the Russian Federation on October 4, 2019, the order of the Ministry of Finance of the Russian Federation of July 14, 2020 No. 142n "About introduction of the document of International accounting standards "Classification of obligations as short-term or long-term (Amendments to IFRS (IAS) 1)" in action in the territory of the Russian Federation" (registration No. 59616) is registered by the Ministry of Justice of the Russian Federation on September 2, 2020, the order of the Ministry of Finance of the Russian Federation of November 26, 2020 No. 283n "About introduction of documents of International accounting standards "Prolongation of effective period of temporary release from application of IFRS (IFRS) 9 (The amendment to IFRS (IFRS) 4)" and "The amendment to IFRS (IAS) 1 "Accounts presentation" in action in the territory of the Russian Federation" (registration No. 61873) is registered by the Ministry of Justice of the Russian Federation on December 28, 2020, the order of the Ministry of Finance of the Russian Federation of December 14, 2020 No. 304n "About introduction of the document of International accounting standards "Amendments to IFRS (IFRS) 17 "Insurance contracts" in action in the territory of the Russian Federation" (registration No. 62135) is registered by the Ministry of Justice of the Russian Federation on January 19, 2021, the order of the Ministry of Finance of the Russian Federation of December 30, 2021 No. 229n "About introduction of documents of International accounting standards "Disclosure of information on accounting policy (Amendments to IFRS (IAS) 1 "Accounts presentation" and to Practical recommendations No. 2 about application of IFRS "Forming of judgments of materiality") "and" the deferred tax connected with assets and liabilities which result from one transaction (The amendment to IFRS (IAS) 12)" in action in the territory of the Russian Federation" (registration No. 67141) is registered by the Ministry of Justice of the Russian Federation on February 3, 2022, the order of the Ministry of Finance of the Russian Federation of December 13, 2023 No. 198n "About introduction of the document of International accounting standards "Long-term obligations with covenants (Amendments to IFRS (IAS) 1)" in action in the territory of the Russian Federation" (registration No. 76917) is registered by the Ministry of Justice of the Russian Federation on January 19, 2024.

2. For the purpose of this Instruction mistake the wrong reflection by not credit financial credit institution, bureau of credit histories, credit rating agency (is recognized further in case of joint mentioning - the organization) and (or) not reflection of objects of financial accounting by the organization financial accounting and (or) accounting (financial) records of the organization.

3. For the purpose of this Instruction the organization shall reflect error corrections in accounts of financial accounting and in accounting (financial) records of the organization, caused including:

non-compliance by the organization with the legislation of the Russian Federation on financial accounting;

non-compliance with accounting policy of the organization by the organization;

assumptions organization of incorrect calculations;

wrong classification and (or) assessment of objects of financial accounting;

misuse by the organization of information which is available for signature date of accounting (financial) records of the organization;

unfair actions of officials of the organization.

4. For the purpose of this Instruction the organization does not recognize as errors of inaccuracy or the omissions of reflection of objects of financial accounting of the organization revealed as a result of receipt of information by the organization unavailable for date of reflection (not reflection) by the organization on accounts of financial accounting of such objects of financial accounting.

5. For the purpose of this Instruction the organization recognizes mistake essential if it separately or in total with other mistakes for the same accounting period can influence adoption of economic decisions by users of accounting (financial) records of the organization.

6. The organization shall reflect in accounts of financial accounting correction of the material mistake made current reporting year revealed before the termination of the current accounting year, in day of its identification on accounts of financial accounting No. No. 710 - 719, provided by appendix 1 to the Provision of the Bank of Russia of August 1, 2022 No. 803-P "About the Chart of accounts of financial accounting for not credit financial credit institutions, bureau of credit histories, credit rating agencies and procedure for its application" <2> (further - the Chart of accounts), in correspondence with the accounts of financial accounting requiring correction.

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<2> It is registered by the Ministry of Justice of the Russian Federation on September 20, 2022, registration No. 70158, with the changes made by Instructions of the Bank of Russia of January 10, 2024 No. 6665-U (it is registered by the Ministry of Justice of the Russian Federation on February 12, 2024, registration No. 77223), of May 21, 2024 No. 6729-U (it is registered by the Ministry of Justice of the Russian Federation on June 20, 2024, registration No. 78625).

7. The organization shall reflect in accounts of financial accounting correction of the material mistake made in reporting year revealed after the termination of accounting year and before date of creation of accounting (financial) records of the organization for accounting year in which it is allowed, according to the Instruction of the Bank of Russia of October 2, 2024 No. 6890-U "About procedure for reflection on accounts of financial accounting of events after accounting year by not credit financial credit institutions, bureau of credit histories, credit rating agencies" <3> (further - the Instruction of the Bank of Russia No. 6890-U).

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<3> It is registered by the Ministry of Justice of the Russian Federation on November 7, 2024, registration No. 80056.

8. In case of identification by the organization of the material mistake made in reporting year, the revealed ambassador of date of creation of annual accounting (financial) accounts of the organization for accounting year, but before date of its approval, the organization shall reflect recovery of remaining balance (stornirovochny record) in accounts of financial accounting No. No. 720 - 729, No. provided by the Chart of accounts, formed before their transfer into the account of financial accounting 708, provided by the Chart of accounts.

In case, the specified in paragraph one of this Item, the organization shall reflect correction of the material mistake made in reporting year, the revealed ambassador of date of creation of annual accounting (financial) accounts of the organization for accounting year, but before date of its approval, according to the Instruction of the Bank of Russia No. 6890-U.

9. The organization shall reflect correction of the material mistake made before accounting year revealed after approval of annual accounting (financial) accounts of the organization for accounting year in which it is allowed in day of its identification current reporting year in accounts of financial accounting No. 10801 (No. 10901), No. 106 (except for accounts No. 10602) provided by the Chart of accounts in correspondence with the accounts of financial accounting requiring correction.

10. The organization shall reflect in accounts of financial accounting correction of the mistake which is not essential, allowed current reporting year, revealed before the termination of the current accounting year, in day of its identification current reporting year on accounts of financial accounting No. No. 710 - 719, provided by the Chart of accounts, in correspondence with the accounts of financial accounting requiring correction.

11. The organization shall reflect in accounts of financial accounting correction of the mistake which is not essential, allowed in reporting year or before accounting year, revealed after the termination of accounting year and before date of creation of accounting (financial) records of the organization for this accounting year according to the Instruction of the Bank of Russia No. 6890-U.

12. The organization shall reflect in accounts of financial accounting correction of the mistake which is not essential, allowed in reporting year or before accounting year, the revealed ambassador of date of creation of annual accounting (financial) accounts of the organization for accounting year and before approval date of annual accounting (financial) accounts of the organization, or after its approval, in day of its identification current reporting year on accounts of financial accounting No. No. 710 - 719, provided by the Chart of accounts, in correspondence with the accounts of financial accounting requiring correction.

13. In case of application of this Instruction the organization shall be guided by International accounting standards and Explanations of International Financial Reporting Standards <4>.

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<4> Are enacted in the territory of the Russian Federation according to the order of the Government of the Russian Federation of February 25, 2011 No. 107 "About approval of the Regulations on recognition of International accounting standards and Explanations of International accounting standards for application in the territory of the Russian Federation".

14. Requirements of this Instruction do not extend to foreign insurance companies.

15. This Instruction is subject to official publication and according to the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of September 13, 2024 No. PSD-28) become effective since January 1, 2025.

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