Belarus ratifies CIS agreement on consolidated financial reporting of economic agents

MINSK (BelTA) - The House of Representatives of the National Assembly of Belarus ratified the CIS agreement on the consolidated financial reporting of economic agents on 18 June, BelTA has learned.

When presenting the document, the member of the permanent commission for foreign affairs Valentina Leonenko said that the agreement is aimed to implement the CIS economic development strategy for the period up to 2020. The strategy is designed to promote the application of international financial reporting standards (IFRS) in the CIS countries, coordinate action in accounting and to elaborate common requirements for the consolidated financial reporting of economic agents of the CIS member states, and approximate the national accounting systems with the IFRS.

On 18 June the MPs passed the second reading of the amendments to the Civil Code of the Republic of Belarus. Changes and additions are mainly of technical nature and are associated with the recent judicial reform.

The MPs also passed the second reading of the bill on amendments to the laws on the activities of the State Control Committee agencies.