Statistical Accounting Reform in Russia

As a part of the national program «Digital economy» the project of the Decree of the Government of Russia «Regulation on Digital Analytical Platform for providing statistical data» has been launched in August 2019.

Purpose of Digital Analytical Platform (DAP) development is the automation of statistical data production and distribution processes. DAP is presented by developers as a network of information, technology, legal and methodological support means.

It is expected that the introduction of the platform will result in a reduction of the reporting burden on companies and budget costs on statistical data production will be minimized.  At present companies have to file their financial accounts not only with the Federal Tax Service (FTS), but also with the Federal State Statistics Service (Rosstat), which publishes such data.  

The current procedure will be cancelled and the financial statements of companies used for statistical purposes will be taken directly from the supervision authority – FTS.  Companies will no longer be required to filling in hundreds of specific statistical reporting declarations.

The Federal Tax Services will be the only source for financials and it is anticipated in company information providers’ community that the higher percentage of financials will be published starting from 2020, the period during which they will be published will perhaps be shortened.

Not just company financial statements, but all other statistical data will be collected and processed more quickly.  The users of the new platform will benefit from statistical data placed on open access, to some extent for a fee and its` distribution volume will increase.  The Federal State Statistics Service (Rosstat) will be the operator of the platform.

The platform is expected to provide benefits for institutions involved, and end users (individuals, information providers, authorities etc.):

• one-time data provision (incl. statistical) online to all governmental authorities and local governments;
• feasibility to build and use analytical indicators (incl. traditional statistical) for governmental control, using available primary statistical data base considering changing information requirements;
• provision of all data, both by companies and on end-user requests, only in electronic machine-readable form;
• simultaneous usage of data of different origin on a real-time basis (e.g., data of statistical census and inquiries, financial statements submitted to state supervision authorities (FTS), alternative and open information sources) that enables to control management processes based on more complete information;
• integration of financial, statistical and tax accounts;
• feasibility for respondents to upload via “one-stop window” different types of accounts integrated with platforms and information systems maintained by governmental authorities and local governments.

The following stages of development and introduction of DAP are expected:

Source:  Credinform – Russian provider of company credit reports – online & freshly investigated. Financial accounts of Russian companies are also provided: more recent as well as for previous years to compare company financial performance.  https://credinform.ru/en-GB/Products