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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
Disclaimer
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© 2016 Asia Briefing Ltd.