Hot tip for ensuring your future employability in Russia: become an IFRS accountant

If you're working in financial services in Russia and are wondering how to make sure you are never out of work, now is the time to learn all about IFRS (International Financial Reporting Standards).

VTB is the latest organisation to call for the full implementation of IFRS in Russia. Chief executive Andrey Kostin says Russian Accounting Standards (RAS) can cause confusion as they produce different results to IFRS standards and that foreign investors only trust banks' results when they're presented under the international rules.

Russian companies have to use IFRS standards for their consolidated reports from this year. Kostin wants Russian Accounting Standards to be dropped for consolidated reports.

For full details of the implementation of IFRS standards in Russia, click here. Accounting jobs in Russia increasingly require IFRS and RAS knowledge. PricewaterhouseCoopers is particularly looking for people who can help convert RAS accounts to meet international requirements.