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Accounting and auditing in Korolyov are governed primarily by federal Russian law, implemented locally through the municipal and regional offices that handle tax registration, inspections and enforcement. The main federal frameworks are the Law on Accounting - Federal Law No. 402-FZ - which sets requirements for bookkeeping, financial statements and record keeping, and the Law on Auditing Activity - Federal Law No. 307-FZ - which regulates auditors, audit procedures and professional responsibility. The Tax Code and other federal legislation shape how accounting records affect tax reporting and tax audits.
In practice this means companies and individual entrepreneurs in Korolyov must maintain accounting records in accordance with Russian Accounting Standards and applicable rules issued by the Ministry of Finance, prepare and file tax reports with the local tax authority, and engage auditors when a statutory audit is required or when stakeholders request one. Local courts, arbitration tribunals and administrative bodies in Moscow Oblast handle disputes arising from accounting and audit matters.
- You face a tax audit or assessment that you believe is incorrect or excessive and need representation before the tax authority or in arbitration court.
- An auditor has identified material misstatements or irregularities and you need legal advice on disclosure, remedial steps and potential liability.
- You are accused of accounting fraud, falsifying documents or tax evasion and require criminal-law defense or coordination with corporate counsel.
- You are negotiating or disputing the terms of an audit engagement, audit opinion, or professional liability claim with an audit firm.
- You are restructuring the company, merging, or preparing for investor due diligence and need help aligning accounting, audit and disclosure practices with legal requirements.
- You need to challenge administrative penalties or professional sanctions imposed by a self-regulatory organization or state body.
- You want preventive compliance help - designing internal controls, document-retention policies and accounting procedures to reduce legal and tax risk.
- You require guidance on applying Russian Accounting Standards, translating RAS results into IFRS for international reporting, or resolving cross-border accounting questions.
- Federal framework - The key federal enactments are the Law on Accounting (No. 402-FZ) and the Law on Auditing Activity (No. 307-FZ). These laws set out obligations for bookkeeping, preparation of financial statements, audit rules and the professional environment for auditors.
- Tax interplay - The Tax Code of the Russian Federation interacts closely with accounting rules. Tax assessments, tax reporting deadlines and penalties are administered by the Federal Tax Service through its local inspectorates. Correct accounting is essential to support tax positions and claims for deductions.
- Professional standards and SROs - Auditors must meet professional qualification requirements and typically belong to self-regulatory organizations - SROs - which set standards of practice, disciplinary procedures and rules on professional liability and insurance.
- Mandatory audits - Certain entities are subject to mandatory audits under federal law - for example public-interest entities, credit institutions, insurance companies, pension funds and other organizations designated by law. For other businesses an audit can be voluntary or required by charter documents or investors.
- Record-keeping and reporting - Companies must keep primary accounting documents and supporting records in Russian and file statutory reports with the tax authorities within the deadlines established by law. Rules on valuation, depreciation, and presentation are set by national accounting standards and Ministry of Finance regulations.
- Liability and enforcement - Violations can lead to administrative penalties, tax reassessments and, in severe or deliberate cases, criminal charges for falsifying accounts or tax evasion. Auditors and accountants can face professional sanctions or civil liability for negligent or improper conduct.
- Local institutions - Korolyov businesses deal with the local tax inspectorate for registration, filings and audits, and with the arbitration courts of Moscow Oblast for business disputes. Local municipal authorities may also have specific registration and reporting procedures for certain activities.
Not always. Whether an audit is mandatory depends on the type of business and federal law. Public-interest entities and certain regulated sectors must have statutory audits. Many small businesses are exempt unless their charter or investors require an audit. A lawyer or auditor can check your specific status and advise whether a mandatory audit applies.
Typical documents include the general ledger and trial balance, balance sheet and profit and loss statement, primary invoices and receipts, bank statements, cash books, payroll records, fixed asset registers, contracts, tax returns and supporting calculations. Exact requirements vary with the nature and complexity of the business and the scope of the audit.
For auditors, confirm SRO membership, professional certifications and relevant sector experience. For lawyers, look for specialisation in tax, accounting and financial disputes, bar registration, and local experience with Korolyov and Moscow Oblast authorities. Ask for references, sample engagement letters and clear fee estimates.
Document the adjustment, gather supporting accounting and transactional records, and consult a lawyer promptly. You may be able to file an administrative appeal with the tax authority and, if necessary, bring the case to arbitration court. Timeliness is critical because appeal deadlines are limited.
Simple bookkeeping mistakes normally lead to administrative penalties or tax reassessments. However deliberate falsification of accounts, concealment of income or other actions intended to evade taxes can lead to criminal investigations. If criminal exposure is possible, obtain criminal-defense counsel immediately.
Consequences include tax reassessments and interest, administrative fines, penalties from regulators, professional sanctions against auditors or accountants, reputational harm and, in serious cases, criminal proceedings. Civil claims by creditors or shareholders are also possible.
Yes. Statutory accounting and tax reporting are presented in Russian and in the national currency - the Russian ruble. Transactions in foreign currency are recorded following established conversion and disclosure rules under accounting and tax regulations.
Retention periods are set by law and regulation and can depend on the type of document. Many entities retain accounting records for several years to comply with tax audits and other regulatory checks. Consult a lawyer or accountant to confirm retention periods applicable to your situation and industry.
Yes. Disputes with an audit firm can be addressed through negotiation, mediation, or litigation. For professional misconduct you can file complaints with the auditor's SRO or seek civil remedies for breach of contract or negligence. A lawyer experienced in professional liability and arbitration can advise on the best path.
An engagement letter should clearly state the scope of work, responsibilities of each party, timing and deadlines, fees and payment terms, confidentiality provisions, limits on liability and procedures for termination. A lawyer can review the letter to protect your legal and commercial interests.
- Ministry of Finance of the Russian Federation - sets accounting and audit rules and issues guidance.
- Federal Tax Service - local inspectorates handle registration, tax filings and audits.
- Chamber of Auditors and self-regulatory audit organizations - oversee auditor qualifications, standards and disciplinary matters.
- Arbitration courts of Moscow Oblast - forum for business-related disputes and appeals against tax decisions.
- Local Korolyov municipal authorities and Moscow Oblast administration - for local registration and administrative requirements.
- Professional associations of accountants and auditors - for training, certification and professional guidance.
- Gather your documents - collect financial statements, ledgers, contracts, tax returns, bank records and any correspondence related to the issue.
- Identify the problem - is this a compliance question, a tax audit, a dispute with an auditor, or potential criminal exposure? The nature of the problem determines the type of specialist you need.
- Find the right specialist - look for a lawyer who specialises in tax, accounting and audit disputes or an auditor with the right SRO credentials. Verify experience in Korolyov or Moscow Oblast matters.
- Request an initial consultation - discuss the facts, likely options, timelines and fee structure. Be prepared to provide documents for early assessment.
- Agree scope and engagement terms - sign a written engagement that sets out responsibilities, confidentiality, fees and expected outcomes.
- Act promptly - legal and administrative deadlines can be short. Early engagement improves your ability to contest assessments, negotiate settlements or take corrective steps.
If you are uncertain about the next move, start with a local consultation with a qualified lawyer who can assess risks, explain legal deadlines and recommend a clear plan tailored to your Korolyov circumstances.
