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Accounting in Russia

Up-to-date information and background knowledge can help support and grow your business internationally. This page sets out a range of resources on accounting practices and standards in Russia.

Accounting standards

Sanctions on accountancy services

The UK announced a ban on professional services exports to Russia on 4 May 2022, which came into force on 21 July 2022. The sanctions cover accountancy, management consulting, and PR services. The ICAEW Insights article Prohibition on provision of accountancy services to Russia comes into force explains the new legislation and suggests action points for ICAEW member firms. 

The EU announced a package of sanctions on 3 June 2022, which includes a prohibition on the provision of consulting services to Russia. The sanctions include accounting, auditing, bookkeeping, tax consulting services, business and management consulting, and PR services. The Council Regulation (EU) 2022/879 gives a detailed list of which services are prohibited and a number of exceptions (see paragraphs 23-26 and articles to be amended). The deadline for cessation of activities is 5 July 2022.

The US announced measures on 8 May 2022 that include a ban on the provision of accounting, trust and corporate formation, and management consulting services to any person in the Russian Federation.

For more information on sanctions, other measures and considerations for accountants, see our Ukraine crisis: central resource hub.

Model accounts

The ICAEW Library can search our databases for model accounts and disclosure checklists on behalf of members, ACA students and other authorised users. Contact us to request model documents.

Accountancy associations and groups

ICAEW Contact Members

ICAEW’s network of Contact Members around the world are a point of contact for enquiries and act as ambassadors in promoting ICAEW's strategy and brand in each region.

Online articles

The ICAEW Library provides logged-in ICAEW members, ACA students and other entitled users with online access to articles from leading business, finance and management journals. To view the articles available, please log in.

Databases

As well as providing direct access to a world-class collection of books, journals and electronic resources, the ICAEW Library can search various international databases on behalf of members, ACA students and other authorised users. Our specialist databases contain jurisdiction-specific information on accounting, tax and related topics.

  • International Corporate Procedures (Lexis+)

    This regularly updated database includes country-by-country information on tax and accounting and features model company accounts. The model accounts are presented in the standard format for each country or territory with original language and English language versions presented together. Contact us to request documents from this database.

Joining ICAEW

To find out whether you can claim credits towards completing the ACA qualification and/or apply for ICAEW membership, see our pages on becoming a member.
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Some of the content on this web page was provided by the Chartered Accountants’ Trust for Education and Research, a registered charity, which owns the library and operates it for ICAEW.

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