AGREEMENT

of November 20, 2013

About consolidated financial statements of national business entities of the State Parties of the Commonwealth of Independent States

St. Petersburg

The governments of the State Parties of this agreement which further are referred to as with the Parties

promoting strategy implementation of economic development of the Commonwealth of Independent States for the period till 2020 by means of assistance to application of International accounting standards in the State Parties of the CIS,

understanding need of coordination of actions concerning financial accounting, development of initial requirements to creation of consolidated financial statements of national business entities of the Parties, and also rapprochement and harmonization of national systems of accounting with International accounting standards,

for the purpose of enhancement of operating conditions of the financial markets and ensuring comparability of financial information of national business entities

agreed as follows:

Article 1.

For the purposes of this agreement the stated below terms have the following values:

International Accounting Standards (IAS) - International accounting standards and Explanations of international standards, changes which are made to international standards and their Explanations, other documents determined by IFRS Fund as integral part of IFRS and (or) their Explanations;

consolidated financial statements - the systematized information reflecting financial position, financial results of activities and change of financial position of national business entity together with the national and foreign business entities controlled by it - the group of the organizations determined according to IFRS;

national business entities - the organizations, the companies, the companies and the other subjects which are not belonging to public sector determined by the legislation of the State Parties of this agreement as legal entities and speakers as independently identifiable subjects of the economic relations.

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