US GAAP Services by Interexpertiza

US GAAP Services

United States Generally Accepted Accounting Principles (US GAAP) issued by FASB is one of two leading accounting frameworks used world-wide. During the last 10 years the positions of US GAAP have weakened due to the increased role of IFRSs but the high status of US GAAP still corresponds to dominating role of US economy in the world. Among Russian companies US GAAP is used primarily by mining industry, oil and gas, companies focused on American markets as well as by subsidiaries of US companies.

It is also worth to mention that we as accounting professionals widely use US GAAP also during IFRS engagements as a reference when principle-based IFRSs do not prescribe an accounting method in numerous controversial situations. A tremendous knowledge-base US GAAP provides has been extremely helpful in such cases.

Our services in the sphere of US GAAP

  • Audit of financial statements prepared under US GAAP;
  • Audit of reporting (consolidation) packages prepared under US GAAP;
  • Agreed-upon procedures in respect of US GAAP financial statements;
  • Fast-close of financial statements;
  • Compilation of US GAAP financial statements and consolidation packages to be audited by Big Four and other auditors;
  • Transition from Russian GAAP to US GAAP and convergence;
  • Appraisal services for US GAAP financial statements preparation.

Our Team

International Reporting Department of ACG Interexpertiza was founded by the present Director, Anton Kalanov, in 2004 and soon became one of five leading departments of the company. We successfully create work conditions that allow us to keep and help develop all the key employees of the International Reporting Department over the years. Moreover the best legal experts and consultants as well as auditors of ACG Interexpertiza provide professional support to our International Reporting team. As the nature of international assignments requires the majority of employees in our department are fluent in English.

PCAOB Registration

Since 2007 ACG Interexpertiza is among ten Russian сompanies registered with the Public Company Accounting Oversight Board (PCAOB) - an non-profit organization to oversee the auditors of public companies in United States. This gives us the right to audit financial statements of companies whose securities are traded on the American stock market.

International Assistance

As a member of AGN International since 2006 ACG Interexpertiza has long close business relationship with foreign companies and colleagues from all over the world including USA. Around 50 companies in United States (see the list) including some of the biggest companies in USA (Rothstein KassSchenck SC) are ready to assist our company in US GAAP assignments.

Our Experience

The clients of International Reporting department are Russian and foreign entities in various industries, having numerous subsidiaries in many regions of Russia. Financial statements prepared by us in both English and Russian languages were used in strategic decisions of potential investors, for introducing to foreign shareholders, for obtaining loans from European bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC).

Audits of international reporting is always conducted by us in collaboration with parent companies of the clients abroad and/or their auditors: PwC, KPMG, Deloitte, Ernst & Young, GT, BDO, and members of AGN International in the countries such as Germany, Austria, Cyprus, Switzerland, UK, Belgium, Slovenia, Netherlands, USA, Sweden etc.

Anton Kalanov, International Reporting Department Director and the member of International Auditing and Accounting Committee of AGN International would be glad to provide you with additional information about US GAAP, other services and our company by e-mail or direct phone: +7 (916) 835 1884.

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