Русско-англо-русский юридический словарь

Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. (Independent Auditor’s Report for Pan American Silver Corp. by Deloitte, http://panamericansilver.com/annualreport2014/financial-statements/independent-auditors-report/)

H1 net profit under Russian Accounting Standards (RAS) of 81.6 billion roubles ($1.44 billion) versus 186.4 billion roubles year ago (Reuters)

The stock fell after the state-run bank, which is Russia’s biggest lender and has been targeted by international sanctions, said net income under Russian accounting standards dropped to 81.6 billion rubles ($1.4 billion) in the first half from 186 billion rubles a year earlier. (Bloomberg)

Under IFRS, International Accounting Standard (IAS) 12, Income Taxes, requires companies to measure current and deferred income taxes based on the tax laws that are enacted or substantively enacted as of the balance sheet date of the relevant reporting period. The International Accounting Standards Board (IASB) has indicated that substantive enactment is achieved when any future steps in the enactment process will not change the outcome. In this context, will not does not mean can not. (Global Tax Accounting Services Around the world: When to account for tax law changes)