Date: 2 months ago   Category: Finance

The MEDT suggested to exempt small NPOs from obligatory audit — Rambler News Service


Photo: Artem Geodakyan / TASS the Ministry of Economic Development suggested to exempt from obligatory audit non-profit organizations with a capacity of annual receipts up to three million of rubles, the notice of the beginning of development of the relevant bill is published on the portal of drafts of regulations. "There is a need of establishment of the lower bound of financial performance at which obligatory audit by fund can is not booked. The sum of more than 3 million rubles corresponds to the provision of Part 3 of Article 32 of Federal law No. 7-FZ of January 12, 1996. "About non-profit organizations" where it is defined that the expanded reporting in judicial authorities the non-profit organization hands over in case receipt of funds and property makes more than 3 million rubles in a year" — it is said in the notice. The Ministry of Economic Development notes that now obligatory audit concerning NPO is defined by the law "About Auditor Activity". It provides that any NPO created in legal form "fund" including charitable, is obliged to book audit, irrespective of an annual turnover of means and the balance. "Carrying out the audit inspection demands essential expenses for the small non-profit organization created in legal form "fund" and is a considerable financial burden for the specified organizations" — consider in the ministry. The press service of the Ministry of Economic Development reported to RNS that the Ministry of Finance supported this initiative. According to the notice, department expects that corresponding changes will come into force in December, 2019. In January, 2013 "Izvestia" wrote that the Ministry of Economic Development suggested the government to exempt from obligatory audit funds with a capacity of annual receipts up to three million of rubles. However amendments were opposed by the Ministry of Finance, having referred to the fact that independent audit provides transparency and increases the level of protection of interests of interested persons.

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