International financial Reporting Standards (International Financial Reporting Standards) now occupy a leading position.

IFRS differs from many national standards in that it is a set of principles rather than rigid rules.

Benefits of IFRS for Russian companies:
- Ability to enter the stock markets in many countries of the world;
- The possibility of attracting foreign capital (foreign banks do not consider statements prepared according to Russian standards);
- Improving the reliability of information about the company-borrower (many Russian banks now require reporting in the form of IFRS, along with the Russian financial statements).