• Service: Audit, International Financial Reporting Standards, IFRS
  • Type: Press release
  • Date: 2/15/2013

"A comparative analysis of IFRS vs RAP": KPMG's new practical guide 

The standards and interpretations included in this publication are those that are mandatory for an annual reporting period beginning on 1 January 2012.

KPMG’s DPP in Russia and the CIS has published a practical guide called A Comparative Analysis of IFRS vs RAP. The publication helps in understanding the significant differences between International Financial Reporting Standards and Russian GAAP.


The publication covers only significant distinctions most commonly encountered in practice. However, the significance of any difference will vary by entity. Some differences that appear major may not be relevant to some companies; on the other hand, a seemingly minor difference may cause organisations significant additional work.


The guide focuses on recognition, measurement and presentation, rather then on disclosure; therefore, disclosure differences generally are not discussed.


The IFRS requirements are discussed on the basis that the entity has adopted IFRSs already. The special transitional requirements that apply in the period in which an entity changes its national GAAP to IFRS are discussed in KPMG’s Insights into IFRS publication.


The new publication is organised into topics, following the typical presentation of items in financial statement items and consistent with Insights into IFRS. A summary of IFRS requirements is included in the left-hand column. In the right-hand column Russian GAAP is compared to IFRS, highlighting similarities and differences.


The A Comparative Analysis of IFRS vs RAP (only Russian version) is available on the IFRS portal at


About KPMG in Russia and CIS

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 155 countries with more than 162,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.


KPMG has been operating in Russia more than twenty years. For the last years KPMG in Russia and the CIS has been one of the fastest growing practices in KPMG worldwide.


In the CIS, KPMG now has offices in Moscow, St. Petersburg, Yekaterinburg, Kazan, Nizhny Novgorod, Novosibirsk, Rostov-on-Don, Krasnoyarsk, Perm, Almaty, Astana, Atyrau, Bishkek, Kiev, Lviv, Yerevan, Tbilisi and Baku, employing together over 4,000 people.

Media contacts

For any media enquiries or interview requests contact our media team at or Sabina Kasparova, Manager, PR & Communications, KPMG in Russia and the CIS, at +7 (495) 937 4477 (ext 14264), +7 (968) 6911037 or