Features of the due diligence procedure's conduction in Russia

In conditions of economic volatility contractors want to be confident in the reliability of transaction. They often accomplish this by utilizing the Due Diligence procedure. This expertise has been mastered not only by foreign companies, but also by Russian consulting firms. In spite of the generally accepted principles and methods of due diligence abroad, in our country they are defined neither by auditing, nor consulting standards. The procedure in Russia has no legal framework, clearly defined methodology, and standards. For the further development and expansion of the domestic consulting companies this issue will need to be addressed. The Due Diligence procedure will need to review and streamline its methodology and formalize it into a legal framework.