Real Estate Assurance Group

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Audit services for real estate companies

Auditing financial statements has never been more important. As the global market leader, PwC has the proven capacity to provide high-quality audit services. We provide the following services to our clients:

  • audit of financial statements under Russian Accounting Rules (RAR)
  • audit and review of financial statements under International Financial Reporting Standards (IFRS)
  • advisory support for developing IFRS accounting policies and IFRS financial reporting guidance
  • IFRS training
  • support for working with international ratings agencies

Transitioning to IFRS

International Financial Reporting Standards (IFRS) were fully adopted in Russia on 1 January 2012. The following types of companies must issue a full set of IFRS consolidated financial statements:

  • credit institutions
  • insurance companies
  • listed companies

IFRS consolidated financial statements for 2012 should be audited and filed by 30 April 2013 and published by 31 May 2013.

Consulting on IFRS issues

What issues do clients face?

  • determining the scope of consolidation
  • accounting for transactions involving acquisitions and disposals
  • assessing fair value of real estate assets
  • conducting deferred tax calculations

How can PwC help?

  • Technical accounting application/compliance on current IFRS issues

We deliver real-time, on-site consulting on complex accounting and financial reporting issues and provide access to experienced experts in IFRS reporting.

  • Accounting consulting on evolving developments

We provide support for companies to help them understand the strategic as well as practical implications of accounting issues.

For example, significant changes have recently occurred, or are about to occur, related to accounting for acquisitions and business combinations, complex financial instruments, and consolidations, as well as lease accounting and the overall convergence between IFRS and US GAAP.

  • Reporting requirements for new RE fund/corporate structures

We help companies and funds to evaluate the accounting and reporting aspects of such transactions, thus allowing them to focus on key issues, accelerate the reporting process, and ensure compliance with registration statement requirements.

  • Transitioning from local GAAP to IFRS

We help companies and funds to convert their local GAAP financial statements and books to IFRS.

  • US GAAP technical queries

We assist companies in ensuring US GAAP compliance, including dealing with ongoing issues, the latest developments and transitioning.

  • Corporate training

We offer training in a wide range of delivery formats, starting from open/public courses to team-based learning and coaching tailored to your company’s specific business processes.