Federal Law from December 30, 2015 of No. 307-FZ
This Federal Law establishes the legal rules concerning the regulations in the field of auditing in the Russian Federation.
Auditing shall be carried out in accordance with this Federal Law, Federal Law No. 315-FZ of 1 December 2007 On Self-Regulating Organizations (hereinafter the Federal Law On Self-Regulating Organizations), other federal laws, and also other regulations to be adopted in accordance with them.
Auditing (audit services) is an activity to perform an audit and audit-related services by audit firms and individual auditors.
Audit is an independent check of the financial statements of an audited entity for the purposes of expressing an opinion on the reliability of said financial statements. For the purposes of this Federal Law, the financial statements of an audited entity shall mean the accounts stipulated by Federal Law No. 129-FZ of 21 November 1996 On Accounting or regulations issued in accordance with it, as well as the stipulated by other federal laws or regulations issued in accordance with them accounts similar in composition to said accounts.