Implementing Internal Policies in Russia

Dear Reader,

Russia is considered the country of many documents –

many of which nobody understands. Such documents

are usually deemed a formality, and little attention

is paid to their content. However, this is quickly

changing.

Nowadays, documentation

has not decreased in volume,

but conversely has increased

in the depth of content. Such

documentation is not only

required for large companies,

but is also important for mid-

sized businesses. With the

amount of documentation

needed, making sure that

one has all the required

documents in place and has

prepared them in accordance with all Russian labor

requirements can prove a significant challenge.

Since statutory audits do not address this issue, an

internal audit is usually conducted to execute the

aforementioned tasks. An internal audit is not only a

positive signal for potential investors and creditors,

but it is also an effective instrument for the company’s

owners and management.

Lately, even tax authorities have begun checking

companies’ internal policies, while paying specific

attention to their content. For tax authorities, internal

policies often provide the basis for verifying the

economic feasibility of costs.

A couple of years ago Russian

l e g i s l a t i o n i n t r o d u c e d

obligatory internal controls

for each and every company

operating in Russia. An internal

audit is the ideal tool for

checking whether a company

has not only set up such rules,

but also adheres to them in its

daily business operation.

Amongst other topics which an

internal audit covers are: health & safety standards,

compliance, HR-standards, and security regulations.

These areas are covered in this issue of the Russia

Briefing.

Please do not hesitate to contact our professionals

with any questions you may have on these matters.

Introduction

Reference

Russia Briefing and related titles are produced by Asia Briefing Ltd., a wholly owned subsidiary of Dezan Shira Group.

Content is provided by

Dezan Shira & Associates’partner company SCHNEIDER GROUP.

No liability may be accepted for any of the contents of this publication. Readers are strongly advised to seek professional

advice when actively looking to implement suggestions made within this publication.

Yours sincerely,

Ulf Schneider

Managing Partner

SCHNEIDER GROUP

Ulf Schneider

Managing Partner

SCHNEIDER GROUP

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