Adoption of IFRS in Russia: aspects of assets and liabilities valuation

The author analyzes the worldwide practice of transition from national standards to international financial reporting, in particular, the stages of transition to International Financial Reporting Standards (IFRS) in Russia and the adaptation of IFRS to the Russian reality. Considers features of IFRS (IFRS) 13 – an updated interpretation of the concept of «fair value» and requires additional disclosures. Describes the process of interaction between the customer, the appraiser and the auditor, the results of which prepared a report on the fair value of assets and liabilities necessary for them on the balance sheet. To reduce the labor costs of Accountants and Auditors considers appropriate to engage an independent appraiser of the transition to IFRS.